Market research data (Edexcel GCSE Business): Flashcards
📚Flashcards
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12 cards from this deck
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Practise the cards
12 cards from this deck
What is market research data?
What is market research data?
Essential info that helps businesses understand customers & make informed decisions
What is qualitative data?
What is qualitative data?
Info about thoughts, feelings & opinions (the 'why')
What is quantitative data?
What is quantitative data?
Info that can be measured & expressed in numbers
What's the most effective market research approach?
What's the most effective market research approach?
Combines both qualitative & quantitative data
What is sample size?
What is sample size?
Number of people included in the research
What's the effect of a larger sample size?
What's the effect of a larger sample size?
More reliable results but costs more money & time
What is bias in research?
What is bias in research?
Results unfairly influenced towards a particular outcome
What are leading questions?
What are leading questions?
Questions that push respondents towards a specific answer
What are unrepresentative samples?
What are unrepresentative samples?
Samples that don't reflect the true customer base
What are representative samples?
What are representative samples?
People surveyed reflect the actual customer base
Apple's qualitative research method
Apple's qualitative research method
Uses focus groups for customer feedback
Why avoid bias in research?
Why avoid bias in research?
Can completely undermine the value of market research