Research methods
This type of research involves collecting new data directly from sources.
What is Primary Research?
Dividing a market based on consumer behaviors and purchase patterns.
What is Behavioral Segmentation?
A method of data collection involving questions answered by respondents.
What is Surveys?
: This term measures the profitability of an investment, calculated by comparing the return to the investment cost.
What is Return on Investment (ROI)?
This type of research uses existing data collected by others.
This type of segmentation categorizes the market based on where people live.
What is Geographic Segmentation?
This method gathers opinions from a small, representative group to discuss a product or service.
What is a Focus Group?
Research that aims to understand market trends, consumer behavior, and competitive dynamics.
What is Market Research?
Research that focuses on understanding concepts, thoughts, or experiences.
What is Qualitative Research?
Segmenting the market according to psychological characteristics such as lifestyle and values.
What is Psychographic Segmentation?
Focus groups often explore this type of data, which involves feelings and opinions.
What is Qualitative Data?
The practice of dividing a market into smaller groups with similar needs or characteristics.
What is Market Segmentation?
This research method involves gathering data through detailed conversations and personal interactions.
What is Focus Groups?
This term refers to dividing a market into distinct groups based on various attributes.
What is Market Segmentation?
Surveys that collect numerical data for statistical analysis fall into this category of research.
What is Quantitative Research?
The specific group of consumers at whom a company directs its marketing efforts.
Research that deals with numerical data and statistical analysis.
What is Quantitative Research?
The market segment that a business aims its products and marketing efforts toward.
What is Target Market?
What is an Ideal Customer?
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Who is Mr. O'Connor?