is the price at which all of the product that is currently available sells, and no one who wanted to buy the product at the going price fails to get it.
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Card 7
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the process of gathering data in order to understand current and future customer needs and factors affecting the marketplace.
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Card 8
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obtained 'first hand' by the business that is interested in the results. It involves fieldwork and can be directly related to the needs of the individual business
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Card 9
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uses data that has been gathered previously by another organisation and is publicly available. Also known as desk research.
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Card 10
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market research conducted where the results are numerical and can be analysed statistically
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Card 11
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market research conducted where the results are based on opinions and feelings
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Card 12
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involves collecting data from a group of people who will be representative of the target market or the population as a whole
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Card 13
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occurs when information collected from a sample does not accurately reflect variations in the total population.
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Card 14
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A sample in which everyone has an equal chance of being selected.
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Card 15
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involves dividing the target market into groups according to their consumer characteristics
