Glossary Page 5

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Define: Patent
A patent is the right to be the only user or producer of a specified product or process.
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Define: Permanent Employee
A permanent employee is an employee who is employed on a formal employment contract and remains with the firm for an open-ended period until the contract is ended.
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Define: Primary Research
Primary research is the market research that involves the collection of data that does not yet exist.
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Define: Profit
Profit is the difference between total sales and total costs.
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Define: Quantitative Research
Quantitative research is market research concerned with collecting data that can be quantified.
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Define: Qualitative Research
Qualitative research is market research concerned with collecting data on attitudes, opinions, beliefs, intentions etc.
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Define: Return
Return is the rewards to enterprise.
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Define: Revenue
Revenue is the income or sales that a business achieves in a period.
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Define: Risk
A risk is the probability or chance that hoped-for outcomes will not occur.
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Define: Sample
A sample in market research is a subset of a population. Sampling is the process of taking and analysing a research sample.
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Card 2

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Define: Permanent Employee

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A permanent employee is an employee who is employed on a formal employment contract and remains with the firm for an open-ended period until the contract is ended.

Card 3

Front

Define: Primary Research

Back

Preview of the front of card 3

Card 4

Front

Define: Profit

Back

Preview of the front of card 4

Card 5

Front

Define: Quantitative Research

Back

Preview of the front of card 5
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