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Unit 3.1 Marketing > Chapter 1 Marketing and market research > Flashcards

Chapter 1 Marketing and market research Flashcards

1
Q

Chapter 01

What is meant by the term ‘market research’?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

The process of gaining information about customers, competitors and market trends.

This can be done through primary and secondary research methods.

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2
Q

Chapter 01

How can you collect qualitative market research data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A
  1. Focus Groups
  2. Consumer Panels
  3. Questionnaires
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3
Q

Chapter 01

How can you collect quantitative market research data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A
  1. Questionnaires
  2. Past Sales Records
  3. Internet
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4
Q

Chapter 01

What are respondents?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Those who provide data for a survey usually by answering questions

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5
Q

Chapter 01

What are the methods of primary research?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A
  1. Focus Groups
  2. Consumer Panels
  3. Questionnaires
  4. Observations
  5. Surveys
  6. Experiments
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6
Q

Chapter 01

What are the methods of secondary research?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A
  1. Government statistics
  2. Newspapers
  3. The internet
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7
Q

Chapter 01

What is a sample?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

A small group out of the total population which is selected to take part in a survey

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8
Q

Chapter 01

What is a survey?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Research involving asking questions of people or organisations

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9
Q

Chapter 01

What is marketing?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

The management process that is responsible for anticipating, identifying and satisfying customer needs profitably

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10
Q

Chapter 01

What is Primary research / primary research data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

information that has been gathered for a specific purpose through direct investigation - you have gathered and analysed the information yourself

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11
Q

Chapter 01

What is qualitative market research data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Data about opinions, judgements of people or organisations

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12
Q

Chapter 01

What is secondary research / data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Information that already exists - someone else has already collected it for another purpose and has published it for you to use

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13
Q

Chapter 01

How can you collect market research data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A
  1. Questionnaires
  2. Focus Groups
  3. Experiments
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14
Q

Chapter 01

State two methods of collecting quantitative market research a business could use.

Edexcel 2BS01 Business Studies GCSE Unit 3.

A
  1. Surveys
  2. Questionnaires
  3. Internet
  4. Office for National Statistics
  5. Market Reports
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15
Q

Chapter 01

What is a market segment?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Part of a market that contains a group of buyers with similar buying habits

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16
Q

Chapter 01

What is a questionnaire?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

A list of questions to be answered by respondents, designed to give information about consumers’ tastes

17
Q

Chapter 01

What is public relations?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Promotion of a positive image about a product or business through giving information about the product to the general public, other businesses or to the press

18
Q

Chapter 01

What is quantitative market research data?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A

Data that can be expressed as numbers and can be statistically analysed

19
Q

Chapter 01

Why might market research data benefit a business?

Edexcel 2BS01 Business Studies GCSE Unit 3.1

A
  1. A company will be able to find out how many people are interested in its products or services
  2. A company can discover the price that people are willing to pay
  3. A company will be able to find out often people are will buy their products or services.

Unit 3.1 Marketing (5 decks)

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