level: 3.2 Market Research
Questions and Answers List
level questions: 3.2 Market Research
| Question | Answer |
|---|---|
| Main focus is product rather than customer wants | Product-Orientated |
| Conduct market research before developing a product | Market-orientated |
| A plan for spending on marketing | Marketing budget |
| The process of gathering, analyzing and interpreting information about a market. | Market research |
| This information answers questions about the quantity of something | Quantitative information |
| This information answers questions where an opinion or judgement is necessary | Qualitative information |
| Collection of original data | Primary research |
| -Most common form of primary research -Conducted face to face, telephone or on internet | Questionnaires |
| -Can be done one on one or in groups -Information collected is usually more detail | Interviews |
| A group of people that are representative of the target market | Focus groups |
| -Recording -Watching -Audits (counting inventory to know how many are sold) | Observations |
| The collection of data that has already been collected by someone else | Secondary research (desk research) |