MArket Research1
Watching people
Observation Method
The collection and processing of original data
Primary Research
A small group discussion used to learn customer attitudes, feelings, and reactions.
What is a focus group?
Government websites, internet, research companies
Sources for secondary research
The first step in most market research processes.
What is identifying the problem or question?
The process of gathering, analysing, and interpreting information about the market
Market Research
The most frequently used method when collecting primary data
Survey Method
A one-on-one conversation where a business gathers deeper, detailed information.
What is an Interview?
Name three methods to collect primary research
Interviews
Focus groups
Surveys
Questionnaires
Multiple choice, yes or no, ranking questions
What is closed ended or forced choice
The process of interpreting the results of the data collection
Data Analysis
Designed to obtain information about how people feel about certain products, services, companies or ideas.
Attitude Research
It is a collection of related information about a specific topic
What is a database
researcher observes the results of changing 1 or more marketing variables while keeping the other variables under controlled conditions
What is the experimental method?
Determines which type of media is most effective for getting their message across to a certain target market
What is media research
Group of people that are representative of the target market
Sample
The collection and processing of information already collected by others
Secondary Research
This research method collects non-numerical information about opinions, feelings, and motivations.
Qualitative Research
Name two limitations of primary research
It is expensive
It takes time to collect the data
This describes research that uses measurable, numerical data—often shown in charts, graphs, or statistics.
Quantitative Research
Done right after purchase is made
Point of Sale Research
When the question asked actually measures what was intended to be measured.
Vailidity
happens when a research technique produces nearly identical results each time
What is reliability?
Name two disadvantages of secondary data
It may be out-of-date
Data may not be totally relevant
All businesses have access to the data, so it is not a competitive advantage
process of gathering, analyzing, and interpreting information about a product before it is created, improved, or marketed
What is product research?