Target Market and Market Research (Junior Cert Business Studies): Flashcards
📚Flashcards
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13 cards from this deck
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Practise the cards
13 cards from this deck
Raw data transforms into this through analysis
Raw data transforms into this through analysis
Valuable insights
Formula for survey percentage calculation
Formula for survey percentage calculation
(No. with answer / Sample size) × 100
Visual representations help businesses spot these quickly
Visual representations help businesses spot these quickly
Patterns and trends
Chart type showing categories and frequencies
Chart type showing categories and frequencies
Bar charts
Chart type showing division of responses
Chart type showing division of responses
Pie charts
Graph type showing trends over time
Graph type showing trends over time
Line graphs
Analysis helps businesses do this with decisions
Analysis helps businesses do this with decisions
Make better decisions
Analysis reveals insights into this aspect of customers
Analysis reveals insights into this aspect of customers
Customer behaviour
Customer behaviour analysis studies these 3 things
Customer behaviour analysis studies these 3 things
Preferences, habits and motivations
Analysis can uncover these for business growth
Analysis can uncover these for business growth
Opportunities
Change when products seen as expensive/cheap
Change when products seen as expensive/cheap
Pricing adjustments
Change adding/removing product features
Change adding/removing product features
Product modifications
Targeting ads at specific age groups/demographics
Targeting ads at specific age groups/demographics
Marketing focus