Understanding Customer Needs

Ayo Aderemi
Flashcards by Ayo Aderemi, updated more than 1 year ago
Ayo Aderemi
Created by Ayo Aderemi over 3 years ago
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Description

GCSE Business and Economics Flashcards on Understanding Customer Needs, created by Ayo Aderemi on 08/30/2016.

Resource summary

Question Answer
What are customer needs? The wants and desires of buyers of a product or the customers of a business
What are the most common customer needs? convenient location reasonable price good range good quality knowledgeable and friendly customer service
What is market research? The process of gaining information about customers, competitors and market trends through collecting primary and secondary data
What is primary research? Collecting primary data, data which no one else has collected
What are the types of primary research? Surveys Observation Focus groups
What is secondary research? Collecting secondary data, information that is already available from other sources
What are the sources of secondary research? Internet Newspapers Market reports
What are the different types of data? Qualitative data - information about opinions, judgements and attitudes Quantitative data - data that can be interpreted numerically
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