Market Research (43)

Mikeru7
Flashcards by Mikeru7, updated more than 1 year ago
Mikeru7
Created by Mikeru7 over 7 years ago
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Revision Quiz Subject: Business Studies

Resource summary

Question Answer
Market Research Gathering, presenting, and analysing information about the marketing and consumption of goods and services.
Primary Research Gathering of information that does not exist.
Secondary Research Gathering of information that already exists.
Questionnaires A list of written questions
The uses of market research The market, Price, Product, Place, Promotion, and Competition.
Observation 'Watching' over the behavior of customers
Test marketing Selling a new product in a restricted geographical area to test it before a national launch
Business websites, competitors, Media, internal data, commercuial publications, government publications The quality being delivered is a the level desired by the
The 6 uses of Market Research The market, competition, Price, Promotion, Place, and Product.
Competitors Companies in a similar industry making a similar product
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