the management process that is responsible for anticipating, identifying and satisfying customer needs profitably.
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Market Research
the process of gaining information about customers, competitors and market trends through colllecting primary and secondary data.
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Primary Data
information that has been gathered for a specific purpose though direct investigation such as observation, surveys and experiments.
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Secondary Data
information that already exists such as accounts and sales recors, government statistics, newspaper and internet articles and reports from advertising agencies.
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Quantitative Data
Data that can be expressed as numbers and can be statistically analysed.
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Qualitative Data
Data about opinions, judgements and attitudes.
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Survey
Research involving asking questions of people or organisations.
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Respondents
Those who provide data for a survey usually by answering questions.
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Market Segment
Part of a market that contains a group of buyers with similar buying habits.
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Sample
A small group out of the total population which is selected to take part in a survey.
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Questionnaires
A list of questions to be answered by repsondents, designed to give information about consumer's tastes.
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Other cards in this set
Card 2
Front
the process of gaining information about customers, competitors and market trends through colllecting primary and secondary data.
Back
Market Research
Card 3
Front
information that has been gathered for a specific purpose though direct investigation such as observation, surveys and experiments.
Back
Card 4
Front
information that already exists such as accounts and sales recors, government statistics, newspaper and internet articles and reports from advertising agencies.
Back
Card 5
Front
Data that can be expressed as numbers and can be statistically analysed.
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