Topic 9 Flashcards
What is market research
gathering information about consumer needs and preferences
what is primary research
original market research carried out by the provider itself and tailored to its own specifications
what is internal secondary data
data made by provider
what is external secondary data
data published by other organisations
what is cash back
A service offered by some retailers when customers pay by card. The
retailer gives the customer cash and debits the amount of cash
handed over from the customer’s payment card
what is a close question
A question format that limits respondents’ answers, for example to ‘yes’ or ‘no’
what is cold calling
Telephone calls that were not requested by the person being called, commonly used for market research and sales.
what is external secondary data
Data published by organisations such as commercial research
companies which providers use for their own research
what is a focus group
A small group of customers or potential customers brought together by the market research company or by the provider itself to discuss how they feel about a particular product, market or service
what is internal secondary data
Data produced by the provider that was once primary data, eg
surveys carried out or financial statements prepared
what is an interview
A two-way process for collecting information from customers,
usually face to face or over the telephone
what is market research
The action or activity of gathering information about consumers’ needs and preferences
what is market segmentation
Splitting up the whole market into smaller segments within which customers share particular features
what is mystery shopping
using researchers to pose as customers, either in person or via telephone or electronic media, to check the quality of service that a business provides
what are open ended questions
Questions that cannot be answered with just ‘yes’ or ‘no’, designed
to get the respondent to open up about their thoughts and feelings.
