Conducting Start-up market research - BUSS1 - chapter 5

HideShow resource information
View mindmap
  • Conducting start-up market research
    • what is market research
      • the process of collecting information to assist the marketing process
      • the anticipation and satisfying of customers wants in a way that delights customers and meets the organisations needs
    • purposes
      • Descriptive reasons
        • Achieving objectives
        • Identifying trends
        • Comparisons
      • Explanatory reasons
      • Predictive reasons
        • how the advertsing effects the sales
        • will a new price alter sales
        • likely arrival of a new competitor
      • Exploratory Reasons
        • ideal price
        • best ways of promoting
    • Types of market research
      • Primary Market research
        • Experiment
        • observations
        • Focus Groups
        • Surveys
          • Personal interviews
          • postal surveys
          • telephone interviews
          • Internet surveys
        • Test marketing
      • Secondary research
        • Gov Publications
        • Newspapers
        • Magazines
        • Company records
        • Competitors
        • Market research organisations
        • Loyalty cards
        • Internet
    • Content of Data
      • Qualitative market research
        • research based on opinions
        • benefits
          • why customers behave in a certain way
          • highlight issues the business Are not aware of
          • detailed insight into customers thinking
        • Drawbacks
          • Expensive
          • difficult to compare data
      • Quanative research
        • research based on figures
        • Benefits
          • summaries data in a concise way
          • makes it easier to compare data
          • can be used to identify trends
        • Drawbacks
          • only shows what rather than why
          • can lack reliability and validity
    • sampling
      • Sample size
      • Random sampling
      • Stratified sampling
      • Quota sampling

Comments

No comments have yet been made

Similar Business resources:

See all Business resources »See all . resources »