Theme 1.1.2 Flashcards
Consumer panels
groups of customers are asked for feedback about products over a period of time.
Database
an organised collection of data stored electronically with instant access, searching and sorting facilities
focus groups
where a number of customers are invited to attend a discussion about a product led by market researchers
Market orientation
an approach to business which places the needs of consumers at the centre of the decision making process
market research
the collection, presentation and analysis of information relating to the marketing and consumption of goods and services
market segment
part of a whole market where a particular customer group has similar characteristics
primary research
the gathering of ‘new’ information that doesn’t already exist
product orientation
an approach to business which places the emphasis upon the production process and the production itself
qualitative research
the collection of data about attitudes or beliefs and intentions
quantitative research
the collection of data that can be quantified
respondent
a person or organisation that answers questions in a survey
sample
a small group of people who must represent a proportion of a total market when carrying out market research
secondary market research
the collection of data that is already in existence
socio-economic groups
division of people according to social class
advantages of sampling
-quicker and easier than trying to collect research from everyone
- the bigger the sample size, the more representative it will be
