Market Research Flashcards
(11 cards)
What is the definition of market segmentation
Organisations have to decide what to make and sell, which will involve finding out who the likely customers are
Definition of Field research
This involves finding out information first hand directly from the public/consumer
Advantages of field research
1.Infromation is gathered specific to your purpose
2. The information is up to date
Disadvantages of field research
- It is more expensive to gather compared to desk research
- it is more time consuming to gather compared to desk research
- people may not always give truthful answers in response to questions
Definition of desk research
This uses secondary information, which is information which is already available, either from inside the organisation or form outside
Advantages of Desk research
- It is cheaper to access existing information rather than having to collect information form scratch
- It is less time consuming to gather compared to field research
Disadvantages of Desk research
1.Information may be out of date
2. Information is avaiable to our competitors
Definition of a Telephone and postal Survey
These are forms which contain a series of questions. they are designed to obtain answers to questions which will help gain peoples opinions.
A sample of people will be questioned
Definition of a Consumer panel or focus group
This is when a group of people are gathered together and are given a product to look at. This allows initial reactions to be recorded. Their opinions are obtained on the design of the product, colour, shape etc and what they like and dislike about the product.
Definition of a personal interview
This is a face to face interview in the street or at home with trained interviewer. follow up questions can be asked if there is confusion and body language can be observed
