Customers Needs

Question 1

What is meant by the term of primary research

Answer 1

Collecting information they did not exist before this first-hand contact with customers is valuable to business in understanding their market

Question 2

What is meant by the term secondary research

Answer 2

The process of gathering secondary data which is information that already exists

Question 3

What can market research Tell a Business

Answer 3

What features customers want, how much they’re willing to pay, where they shop,
what age and gender they are,
who the main competitors are
If the business is growing or shrinking.

Question 4

What are the benefits of primary research

Answer 4

More accurate.
up-to-date.
Specific to the needs.
Effective at collecting qualitative data.
Direct customer contact

Question 5

What are the benefits of secondary research

Answer 5

More general.
Less time-consuming.
Effective at collecting quantitative data.

Question 6

What is meant by the term of qualitative data

Answer 6

Information about opinions judgements and attitudes

Question 7

What is meant by the term of quantitative data

Answer 7

Data that can be expressed as numbers and statistically analysed

Question 8

What is meant by the term customer needs?

Answer 8

Customer needs are based on good quality, good product range, convenient location, good customer service and a fair price.
The problem is that all customers are different and need different things.