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12 Cards in this Set
- Front
- Back
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What is primary research also called? |
Field or original research |
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What is field research? |
It is new research, carried out to answer specific questions or issues |
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What an advantage of original research? |
up to date, relevant and specific to your products |
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What is are disadvantages of primary research? |
1) expensive to collect 2) its time consuming and needs a large sample size to be accurate |
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What is desk research also called? |
Secondary or published research |
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What is desk research? |
Research that's already been compiled and published by other people |
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What is an advantage of published research? |
1) is cheaper than field research 2) early find and instantly available 3) wide range of data available. Can be used to look at the whole market, analyzing past trends to predict the future |
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What is a disadvantage of secondary research? |
1) not always relevant to your needs, or specific about your business 2) often out of date |
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What is quantitative research? |
Information that you can measure or reduce to a number |
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What is qualitative data? |
Information that asks for people's feelings and opinions |
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What is market segmentation? |
Market segmentation is the process of dividing a large group of consumers into smaller sub groups based on shared characteristics |
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What are the five main market segments based on? |
1) Age 2) Gender 3) Social class 4) Location 5) Culture or religion
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