Flashcards
Methods of market research
Cards in this deck (6)
- 1Research aims to find out:- What would people be willing to pay for the product.
- Would they buy the product, how many
- How best to promote the product - 2Primary research- Collecting and using original data.
- Requires direct contact with customers (Potential or existing)
- Can be time consuming and expensive. - 3Methods of primary research:- Interviews: face-to-face, telephone, postal, groups.
- Consumer Panels or focus groups.
- Competitor analysis: e.g what do they charge for a similar product. - 4Secondary Research- Researching information that has already been gathered and collected by someone else and is available to be used.
- Information can be gathered from internal and external sources. - 5Internal sources of information:- Employee surveys
- Customer service department - 6External sources of information:- Internet
- Newspapers
- Media reports
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- NCEA 3 Economics Flashcards on Methods of market research, created by Emerson Dobbs on 16/11/2013.
- Created by
- Emerson Dobbs
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