Market research (OCR GCSE Business): Flashcards
📚Flashcards
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13 cards from this deck
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Practise the cards
13 cards from this deck
Purpose of market research
Purpose of market research
Identify and understand customer needs
Primary research definition
Primary research definition
Research carried out by the business itself, specific to them
Four primary research methods
Four primary research methods
Questionnaires, Interviews, Trialling, Focus groups
What are questionnaires?
What are questionnaires?
Set of questions given to customers for market research
Key feature of interviews
Key feature of interviews
Face-to-face conversations with customers
Who tests products in trialling
Who tests products in trialling
Small group of customers before product launch
Secondary research definition
Secondary research definition
Research carried out by other people or businesses
How often UK census is conducted
How often UK census is conducted
Every ten years
Census surveys which population
Census surveys which population
Entire UK population
Benefit of websites for research
Benefit of websites for research
Free and easy way to look at competitors
What is internal data?
What is internal data?
Data collected by the business in the past
Qualitative data definition
Qualitative data definition
Opinions/feedback not in numerical form
Quantitative data definition
Quantitative data definition
Statistics in numerical form