Chapter 23 Flashcards
1
Q
What is market research?
A
Market research is the gathering, recording and analysis of information about consumer preferences for a good or service, in order to make informed decisions about a potential market?
2
Q
What are the two types of market research?
A
Field research
Desk research
3
Q
List two benefits of carrying out market research.
A
The likely level of sale and information about the competition.
4
Q
What do surveys involve?
A
Questioning consumers in relation to products and services.
5
Q
What is field research?
A
Going into the market place (eg to the people who might buy your product or service) to gather information first-hand.
