• Created by: Erin W
  • Created on: 17-05-17 16:15

Marketing And Market Research

Marketing the management process responsible for identifying, anticipating and satisfying customer requirements profitably.

Market Research - the gathering and analysis of data relating to market places or customers; any research which leads to more market knowledge and better informed decision-making.

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Methods of Primary Research

Questionnaires - face to face, postal or telephone



Consumer Panel - people with enough knowledge about a subject to give an informed opinion or review.

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Methods of Market Research

Primary / Field Researchinvolves collecting new information by making direct contact with consumers.

Secondary / Desk Research - involves collecting information that already exists.

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Adv. / Disadv. of Primary Methods


  • Information is taken directly from people who are or will be the business' consumers - more accurate.
  • The business can be sure the information is up to date - current / relevant.
  • The business can design it so it discovers the information it needs - specific.


  • Designing the research and gathering the information can be very slow.
  • Businesses may have to employ specialist researchers - this can be expensive.
  • People may not give accurate answers to questionnaire i.e. they may say they are interested in a product but really are not.
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Methods of Secondary Research

  • Government Publications
  • Newspapers and Journals - trade journals
  • Business' Internal Records - sales records / patterns
  • Internet - review or audits
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  • For accuracy, it is suggested that any sample should consist of approxiamtely 2,000 people.
  • The people questioned would be a representation of the population as a whole.
  • Makes it manageable for the business - it would be impossible to question everyone.
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Adv. / Disadv. of Secondary Methods


  • Information is cheap / easy to obtain
  • Information is available immediately
  • The data available usually covers a wide range of sources


  • Data may not have been collected for the same purpose as the business' - may not be specific
  • Information may be out of date
  • Information is available to every other business in the market
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Methods of Sampling

Random Sampling:

  • Where people are randomly selected and asked for their opinions
  • Only carried out with products that everyone uses
  • 'Every fiftieth name in the telephone book'

Quota Sampling:

  • Held with a set number of people who fall into pre-determined categories
  • '1/3 teens, 1/3adults, 1/3 elderly'
  • Must reflect composition of the people in the area - must be proportionate

Target Sampling:

  • Where people from a particular market segment are questioned
  • Survey might be limited to people with a particular hobby / profession
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Market Segmentation

  • The selection of groups of people who would most likely use a product so that the product may be targeted at them.
  • Involves dividing the market for a product into different goups and types of consumers.
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Common Market Segments

  • Age - music and clothes
  • Gender - clothes, cars, and personal products
  • Ethnicity / Culture - own taste in food, music, and clothes
  • Geography - different foods and hobbies
  • Socio-economic Class - cars and restaurants
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