Unit 3

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  • Created by: Jack
  • Created on: 02-03-17 14:30
What is primary market research and what is it also know as?
Primary research is doing research that has never been done before this is also called field research. E.G.surveys, focus groups.
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What is secondary research and what is it also know as?
Secondary research is research that has already been done this is also called desk research. E.G.reports,websites.
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What is a market segment?
A market segment is a specific part of the market that has similar characteristics and needs. It helps because can target specific groups likely to buy the product/service.
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Give examples of key features in marketmapping and why it is useful
Cost, Quality, Tech (high/low), light/heavy, neccesity/luxury, simple/complex.
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What is a monopoly?
When a business owns 25% or more of a market reducing the competition.
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What are the main aspects of remaining competitive?
Price, product range, customer service.
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Card 2

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What is secondary research and what is it also know as?

Back

Secondary research is research that has already been done this is also called desk research. E.G.reports,websites.

Card 3

Front

What is a market segment?

Back

Preview of the front of card 3

Card 4

Front

Give examples of key features in marketmapping and why it is useful

Back

Preview of the front of card 4

Card 5

Front

What is a monopoly?

Back

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