2.2 market research

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Created by
Yusuf Ahmed

Cards (10)

  • primary research

    Brand new information that is collected by the business.
  • examples of primary research
     Questionnaire
    Survey
    Interview
    Focus group
  • advantages of primary research

    It is up-to-date.
    It is collected for your specific purpose
  • Disadvantages of market research
    It can be very expensive to collect.
    It can be time consuming to collect.
    Poorly designed questionnaires give poor quality results.
  • secondary research

    When a business uses information that already exists.
  • examples of secondary research
    The internet 
    Magazine / newspaper articles
     Government reports & census
    Competitors’ websites
  • Advantages of secondary research
      It is quick to collect.
      It can be cheaper than primary research.
      There is a wide range of information available on the internet.
  • Disadvantages of secondary research
      It could be out-of-date.
      The source might be biased / untrustworthy.
    The data might not be wholly relevant / specific to you because it was gathered for a different purpose
  • Qualitative data

    This is data related to attitudes, opinions and feelings.
  • Quantitative data

    This is data related to numbers