Limits Of Market Research

Question 1

What is big data

Answer 1

• process of collecting and analysing large data sets from traditional and digital source to identify trends and patterns used in decision making

Question 2

Quantity of big data

Answer 2

• retail e-commerce databases
• user interactions with websites
• use of logistics and transportation

Question 3

Limitations of big data

Answer 3

• instructed and difficult to analyse
• recent, so doesn’t go back in time, difficult to see
• concerned about privacy and amount of data collected
• loss and theft of data can damage business

Question 4

How businesses use big data

Answer 4

• promotions, can target customers
• store raging e.g stores near students
• personalised basis

Question 5

Sampling

Answer 5

• choosing the right number of people to represent a group of customers
• quick and less expensive
• low margin of error and large sample sizes used

Question 6

Sampling methods

Answer 6

Random
- quota
- convenience

Question 7

• problems with sampling

Answer 7

• careful sample selection needed to ensure results are representative
  -sample sixes appropriate to give accurate results
• bias- inaccurate results
• error in research - humans not always truthful

Question 8

Bias in market research

Answer 8

• friendliness bias
• social desirability bias
• confirmation bias
• leading questions

Question 9

Friendliness bias

Answer 9

• Tending to Agee and be positive about ideas in research

Question 10

Social desirability bias

Answer 10

-answering questions in a way that you think is socially acceptable

Question 11

Conformation bias

Answer 11

• when research interprets to conform belief held by filtering out negative info

Question 12

Leading questions

Answer 12

• suggests answer that survey is looking for