Businesses and Their Customers

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What is Primary research known as?
Field Research
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What happens in field/primary research?
You have to gather new information or data that hasn't been collected before. This could be surveys, questionaires or interviews. Also done with focus groups
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What is Secondary research known as?
Desk Research
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What happens in secondary/desk reserch?
You can gather exisiting information or data that has already been produced. This means researching the internet, newspapers and company reports.
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What is a Market?
A market is any place where buyers and sellers meet to trade products.
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Why are markets dynamic?
Because they are always changing. Because of this a business must be aware and keep up with new trends in the market. This is caused by new fashions or changing economic conditions.
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What is marketing?
It is about responding to consumers needs and finding out what the customers needs are before launching a new product.
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Why do businesses do market research?
to help identify gaps in the market and business opportunities.
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Card 2

Front

What happens in field/primary research?

Back

You have to gather new information or data that hasn't been collected before. This could be surveys, questionaires or interviews. Also done with focus groups

Card 3

Front

What is Secondary research known as?

Back

Preview of the front of card 3

Card 4

Front

What happens in secondary/desk reserch?

Back

Preview of the front of card 4

Card 5

Front

What is a Market?

Back

Preview of the front of card 5
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