1.3 - Market Research (Glossary)

Question 1

Define market research

Answer 1

Gathers information about consumers, competitors and distributors within a firm’s target market to identify customers’ buying habits and attitudes to current and future products

Question 2

Define primary research

Answer 2

The process of gathering information directly from people within your target market

Question 3

Define secondary research

Answer 3

Unearthing data that already exists

Question 4

Define qualitative research

Answer 4

In-depth research into the motivations behind the attitudes and buying habits of consumers

Question 5

Define quantitative research

Answer 5

Asks pre-set questions on a large enough sample of people to provide statistically valid data

Question 6

Define focus groups

Answer 6

Free-ranging discussions led by psychologists among groups of six to eight people who discuss a list of topics

Question 7

Define depth interviews

Answer 7

Informal, in-depth interviews that take place between a psychologist and a consumer

Question 8

Define bias

Answer 8

A factor that causes research findings to be unrepresentative of the whole population e.g. misleading survey questions

Question 9

Define sample size

Answer 9

The number of people interviewed - should be large enough to give confidence that the findings are representative of the whole population