Theme 1 - Market Research Flashcards
1
Q
Qualitative Data
A
non numerical data such as how customers use the product
2
Q
Quantitative data
A
data gathered that is numerical such as % of customers who buy more than once a week
3
Q
Product orientation
A
to sell products and services that the business wants to produce
4
Q
Market orientation
A
to sell products or services based on customer needs and wants
5
Q
Primary market research
A
information which has to be gathered
6
Q
Secondary market research
A
information which already exists
7
Q
Market segmentation
A
a whole market can be divided into sections called segments
