business

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  • understanding customer needs
    • marekt research
      • what features customers want
      • how much they are willing to pay
      • where they shop
      • what age and gender customers are.
      • who the main competitors are
      • if the market is growing or shrinking
    • primary research
      • collecting data that didnt exist before
      • focus group
        • observations
        • surveys
        • questionnaires
        • experiments
      • more accurate
      • up to date
      • specific needs
      • effective at colleting qualitative data
      • direct customer contact
    • secondary research
      • the process of gathering data that already exists
      • sales data
        • internet sites
        • local newspapers
        • government statistics
        • market reports
        • telephone directories
      • more general
        • less time consuming
          • effective at collecting quantitative data
    • qualitative and quantitative data
      • qualititative
        • information about opinions judgements and attitudes
      • quantitative
        • data that can be expressed as numbers and statistically analysed

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