Marketing
- Created by: Sumtimesadness
- Created on: 16-02-14 19:30
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- Marketing
- marketing is the process of antipacting and satisfying customers needs and wants
- market research is the systematic and objective collection, analysis and evaluation of information that is intented to assist the marketing process
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- primary research is collection of information first hand for a specific purpose
- Secondary research is the use of information that already exists which has been collected for a specific purpose
- Primary: questionnaries, surveys, group discussions, observation, focus groups, telephone interviews
- Secondary: business directories, Trade Assossications, Chambers of Commerce, Entreprise Agenices, Business Link, trade press, competiton, government publications, newspapers and internet
- Primary market research benefits is that the information is more accurate and precise, focused on the needs of the stat up and up to date, easy to obtain and trusted
- seocondary market research benefits is that the internet is free, information is already available and regular research shows a trend
- Secondaty market research drawbacks is may not be relevant or useful, market reports are expensive, the data is avialbale to competitors and is misleading
- Primary market research negatives is that its expensive and time consuming and not a big enough sample therefore biased
- Qualitative is information such as interviews and group discussions
- Quantitative numerical data is questionnaries and online surveys
- Quantitative benefits is it highlights important trends and summaries correctly and easy to compare
- Quantitative negatives is that time consuming and sample sizes need to be sufficient and doesn't explain crucial questions
- Quantitative benefits is it highlights important trends and summaries correctly and easy to compare
- Qualitative benefits is gives useful insights into opinions and identify new ideas and find out in depth why
- Qualitative negatives is that's based on opinions and based on a small sample size, difficult to form definiative conclusions, expensive to gather and difficult to compare
- sample is a group of respondents whose views should represent the target market
- Random Sample is a group of respndents in which each member of the target population has an equal chance of being chosen
- Quota Sample is a group of respndents from different segments selected non randomly
- Stratified sample is a group of respndents chosen according to particular features. Groups chosen specifically
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