Research And Qualitative Shit Flashcards
1
Q
What is primary research
A
Research you conduct yourself, involving going directly to the source.
Surveys, interviews etc.
2
Q
Primary research advantages and disadvantages
A
Advantages
- specific to the business
- provides detailed information
- relevant and up to date
- can gather a mix of qualitative and quantitative data
Disadvantages
- time consuming
- expensive
- sometimes difficult to collect
3
Q
Secondary research
A
Using existing data such as the internet and market reports
4
Q
Secondary research advantages and disadvantages
A
Advantages
- quick and easy to gather
- can provide industry specific information
- often easy to analyse
Disadvantages
- not specific to the business
- potentially not up to date
- may be biased or innacurate
5
Q
Qualitative data
A
What someone thinks or feels about the product or service
E.g I like this product as it is classy
6
Q
Quantitative data
A
Factual/numberical data usually a statistic
E.g the most popular product is ___ as it is 60% of our sales
7
Q
Aim
A
Overall long term target or goal of the business
8
Q
Objective
A
Short term steps a business needs to meet its overall aims
