Business Studies Market Research

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What is Market Research?
the action or activity of gathering information about consumers' needs and preferences
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Why carry out Market Research?
Competitor analysis, Identify trends in the market, aid pricing strategies customer feedback,ideas for new product development,
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Why is budget important?
ensures that you will always have enough money for the things you need and the things that are important to you
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what impact does budget have?
impacts the economy, the interest rate and the stock markets.
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what is primary research?
(field research) involves gathering new data that has not been collected before. For example, surveys using questionnaires or interviews with groups of people in a focus group.
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what is secondary research?
(desk research) involves gathering existing data that has already been produced. For example, researching the internet, newspapers and company reports.
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Card 2

Front

Why carry out Market Research?

Back

Competitor analysis, Identify trends in the market, aid pricing strategies customer feedback,ideas for new product development,

Card 3

Front

Why is budget important?

Back

Preview of the front of card 3

Card 4

Front

what impact does budget have?

Back

Preview of the front of card 4

Card 5

Front

what is primary research?

Back

Preview of the front of card 5
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