primary and secondary research Flashcards

1
Q

what’s primary market research

A

market research that is done by a firm for its own use.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

what can a business can tailor primary market research to

A

its own exact needs.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

examples or primary market research

A

questionnaires, surveys or interviews to carry out primary research.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

give a key benefit of primary research

A

that it is tailored exactly to the needs of the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what’s the likert scale? give an example

A

a form of market research that firms use to try to understand what customers think of their product or service. At airports, firms like Ferrovial ask what your service was like at security clearance queues.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

when does secondary market research happen?

A

when firms collect information on research that has been performed by other organisations or people.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

whats secondary market research particularly useful for?

A

information about an entire market rather than a specific target market. It is often cheap. eg market research done by governments contained in reports like the Family Expenditure Survey, newspaper articles and research reports written by independent organisations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The Family Expenditure Survey is a government run survey and is an example of what type of market research?

A

secondary market research.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

benefits of secondary research:

A

it’s cheap and it covers an entire market rather than a small target market.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly