Market Research

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  • Created by: imy.xo
  • Created on: 11-05-15 17:39
Why is market research needed?
Market research is needed so that the business can find out what the customers needs are and what they expect and like so that they can then change their product/service so it will do well and customers will like it.
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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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What is primary research?
Primary research is field research where new data is collected that hasnt been found before. This can be from surveys and questionairs
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What is secondary research?
Secondary research is desk research that has already been found out for you and it can be found on the internet and in newspapers and magazines
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What is quantitative market research?
It is the collection of information about the market based on numbers
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What is qualitative market research?
the collection of information about the market based on subjective factors such as opinions and reasons
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Other cards in this set

Card 2

Front

What is a market?

Back

A market is any place where buyers and sellers meet to trade products

Card 3

Front

What is primary research?

Back

Preview of the front of card 3

Card 4

Front

What is secondary research?

Back

Preview of the front of card 4

Card 5

Front

What is quantitative market research?

Back

Preview of the front of card 5
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