2.2 [Marketing] Market Research

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  • Created by: mugmaniac
  • Created on: 10-05-22 12:48
What is market research?
How businesses collect information on whether or not their products or services will be bought.
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What is the difference of primary research and secondary research?
The difference between primary and secondary is that primary has you collect the research while secondary is using information that other people have already done.
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What methods are primary research.
- Questionnaires
- Interviews
- Trials
-Focus groups
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Advantages and Disadvantages of questionaires.
Adv:
- Cheaper than interviews
-Easily target particular customers.

Dis:
- Difficult to predict how many completed questionnaires can be available.
- People in the forms may not understand questions being asked.
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Advantages and Disadvantages of Interviews.
Adv:
- Interviewer can explain questions.
- Easily target particular customers.

Dis:
- They can be expensive because of an interviewer.
- Customers may feel uncomfortable being interviewed whether being on street or on phone.
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Advantages and Disadvantages of Trials
Adv:
- Trials conducted in small area, can see whether customers will like it or not.

Dis:
- Trials are costly to set up and the area must reflect the group/market the business will be aimed
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Advantages and Disadvantages of Focus Groups.
Adv:
- Focus groups are chosen to represent the target market for a business.

Div:
- Focus Groups though carefully chosen represent the target research and are time consuming and money.
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Secondary Research Data's
- Websites
- Internal Data
- Newspapers and magazines.
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Secondary Data adv and divs.
Adv:
- All data are easily accessible
- and can be easily bought

Div:
- Data may not be up to date.
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Other cards in this set

Card 2

Front

What is the difference of primary research and secondary research?

Back

The difference between primary and secondary is that primary has you collect the research while secondary is using information that other people have already done.

Card 3

Front

What methods are primary research.

Back

Preview of the front of card 3

Card 4

Front

Advantages and Disadvantages of questionaires.

Back

Preview of the front of card 4

Card 5

Front

Advantages and Disadvantages of Interviews.

Back

Preview of the front of card 5
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