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14 Cards in this Set

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  • Back
  • 3rd side (hint)

Market Research

Collecting, recording, analysing data about the customers, competitors and the market.

Need for market research

Reduce risks of new product launches

Predict future demand changes

Patterns in sales

Most favoured aspects of products

Primary research

Collection of original data from people within a target market

For own needs

Secondary Research

Collection of data from secondary sources

Other people for other uses

- Market Intelligence Reports

Cost effective surveys

Online marketing

Cell phone method

Methods of primary research

Qualitative research

Quantitative research

Qualitative research

In-depth motivations

Focus groups

-A group asked about their attitude towards a product

Drawbacks of focus groups

Time wasting

Unrelated issues

Difficult to analyse data

Biased researchers

Quantitative research

Consumer surveys

Observation and recording

Test marketing


Test Marketing

Produce limited quantity before full scale launch

Promoting and selling

In limited geographical areas

Recording consumer reactions

Sales figures

Consumer surveys

Asking current and potential customers

For opinions and preferences

Both qualitative and quantitative

David Ogilvy, advertising pioneer and founder of Ogilvy Group

Advertising people who ignore research are as dangerous as generals who ignore decodes of enemy signals.

Bob Cook, Firefish Innovation and Inspiration

Primary research materials are often uncut gems of great value and beauty in their own right.

Jeff Swearingen, Frito-Lay

Sometimes, a great shopper insight is more valuable than a great product