market research Flashcards
1
Q
what are the 5 purposes of market research , rapau
A
reducing risk
analysing the existing position
possible marketing objectives
actions to take
understanding customers
2
Q
what is primary market research( example )
A
first hand data collected for the first time
interview
online survey
3
Q
what is secondary market research( example )
A
existing / second hand data
annual reports
studying information
4
Q
what is sampling
A
selecting a representive group from the target population.
5
Q
what is the value of sampling
A
gain an insight in a market
saves time and money
6
Q
risks with sampling
A
usualy undertaken badly
survey participants may not take it seriously or be the wrong target audience
