Chapter 17 market research definition

  • Created by: ngaelsa
  • Created on: 27-03-17 15:25
Market research
the process of collecting, recording, and analyzing data about customers, competitors, markets
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Primary research
the collection of first-hand data that is directly related to a firm's needs
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Secondary reserach
collection of data from second-hand resources
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Qualitative research
research into the in-depth motivation behind customer buying habit or opinions
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Quantitative research
research that leads to numerical results that can be statically analysed
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Focus group
a group of people who are asked about their attitudes a product, service
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Sample
the group of people taking part in a market research survey selected to be representative of the overall target market
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Open questions
-questions that invite a wide-range of imaginative responses
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Other cards in this set

Card 2

Front

the collection of first-hand data that is directly related to a firm's needs

Back

Primary research

Card 3

Front

collection of data from second-hand resources

Back

Preview of the back of card 3

Card 4

Front

research into the in-depth motivation behind customer buying habit or opinions

Back

Preview of the back of card 4

Card 5

Front

research that leads to numerical results that can be statically analysed

Back

Preview of the back of card 5
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