Starting a Business-Conducting Start-up Market Research

Question 0

Marketing research

Answer 0

The systematic and objective collection,analysis and evaluation of information that is intended to assist the marketing process.

Question 1

Marketing

Answer 1

The anticipation and satisfying of customers’ wants in a way that delights consumers and also meets the needs of the organisation.

Question 2

Primary market research

Answer 2

The collection of information first hand for a specific purpose.

Question 3

Secondary market research

Answer 3

The use of information that has already been collected for a different purpose.

Question 4

Qualitative market research

Answer 4

The collection of information about the market based on subjective factors such as opinions and reasons.

Question 5

Quantitative market research

Answer 5

The collection of information about the market based on numbers.

Question 6

Sample

Answer 6

A group of respondents or factors whose views or behaviour should be representative of the target market as a whole.

Question 7

Random sample

Answer 7

A group of respondents in which each member of the target population has an equal chance of being chosen.

Question 8

Quota sample

Answer 8

A group of respondents comprising several different segments,each sharing a common feature.

Question 9

Stratified sample.

Answer 9

A group of respondents selected according to particular features.