Benefit=Primary Research Flashcards
(11 cards)
1
Q
1
A
Primary research involves collecting new data
2
Q
2
A
Which is up to date and specific to a business
3
Q
3
A
Eg questionnaires and focus groups
4
Q
4
A
Allow the business to effectively identify customer wants and needs
5
Q
5
A
Create a product which effectively meets customer needs
6
Q
6
A
Build customer loyalty
7
Q
7
A
Price inelastic
8
Q
8
A
Able to increase prices
9
Q
9
A
Without a significant fall in demand
10
Q
10
A
Increased profit margins
11
Q
11
A
More retained profit to reinvest
