Marketing

  • Created by: Rhys33
  • Created on: 05-12-18 15:00
What is primary/field research?
Data which has been gathered personally by the business
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What is secondary/desk research?
Data which has been gathered by another business or the government
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Examples of primary research (3)
Questionaires, interviews and observations
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Examples of secondary research (3)
Magazines, government statisitcs and trade organisations
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Perfect competition factors (3)
A large number of small businesses, homogenous products and no scope. However, there is no such thing as a perfect market
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Monopoly market (Firm & real)
A market where a single business runs the entire market. Firm monopoly refers to a business which runs over 25% of a market
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Monopoly factors (3)
Single producer, lots of barriers to entry and usually public sector
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Monopolistic market
A market where there are lots of small businesses
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Monopolistic market factors (3)
Slight differentiation of products, a small price scope and weak brand identity
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Oligopoly
A market where there are many businesses with a few dominating
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Oligopoly market factors (3)
Strong brand identity, a few market barriers and price wars can occur
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Niche market factors (3)
focuses on small segments of the markets, high differentiation and high skill level requirements
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Mass market factors (3)
High volume of sales at low prices, homogenous products and economies of scale can br used
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Public goods features (2)
Non-excludability and non-rivalry
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Non-excludability
Products that are used by all individuals
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Non-rivalry
Products that don't become scarcer with consumption
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Private sector objectives (5)
Profit, incresing shareholder value, survival, incresing market shae and ethics
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Sole traders
A business that is run by one individual
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Partnerships
Joint ownership of a business (2-20 individuals)
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Private limited companies (Ltd)
Large businesses that doesn't float shares
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Public limited companies (PLC)
Large businesses that floats its shares
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Charities
Businesses that do not retain profit for personal gain
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Co-operatives
Businesses that is owned by its members
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Social enterprises
Businesses with an objective that improves society
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Sole trader advantages (3)
Easy set up, low costs and fast making decision making
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Sole trader disadvantages (3)
Limited capital, unlimited liability and limited skill range
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Partnership advantages (3)
Wide skill range, less pressure and shared decision making
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Partnership disadvantages (3)
Limited capital, unlimited liability and the possibilty of dissoltion
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Ltd advantages (3)
Limited liabilty, more investment and tax advantages
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Ltd disadvantages (3)
Set up costs, shared profits and financial information is shared in the public
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PLC advantages (3)
Limited liability, selling shares possibility and the economies of scale
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PLC disadvantages (3)
Increased set ups costs, increased legal requirements and threat of control loss
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Other cards in this set

Card 2

Front

What is secondary/desk research?

Back

Data which has been gathered by another business or the government

Card 3

Front

Examples of primary research (3)

Back

Preview of the front of card 3

Card 4

Front

Examples of secondary research (3)

Back

Preview of the front of card 4

Card 5

Front

Perfect competition factors (3)

Back

Preview of the front of card 5
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