11. Market Research at University Of Birmingham | Flashcards & Summaries

Lernmaterialien für 11. market research an der University of Birmingham

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TESTE DEIN WISSEN
define market research 
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TESTE DEIN WISSEN
market research is the process of gathering, analysing and interpreting information about its market
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the role of market research is to find these answers: (7)
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TESTE DEIN WISSEN
  • will customers be willing to buy the product 
  • what price would customers be prepared to pay 
  • where would they be most likely to buy the product 
  • what features of the product do customers most like or dislike 
  • what type of customer would buy the product 
  • what type of promotion would be effective with the type of customers 
  • how strong is the competition and who are the main competing businesses
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TESTE DEIN WISSEN
define product oriented business 
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a product oriented business is one whose main focus is on the product itself 
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define market oriented business 
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TESTE DEIN WISSEN
a market oriented business is one which carries out market research to find out consumers wants before a product is developed or produced 
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define quota sample 
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TESTE DEIN WISSEN
a quota sample is when people are selected on the basis of custom characteristics as source of information for market research 
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TESTE DEIN WISSEN
ways to write questions for questionnaires (6) 
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  • no more than twelve questions 
  • keep questions short and clear 
  • give a choice of age groups 
  • avoid open-ended questions unless people's opinions are sought 
  • be careful not to lead interviewee into an answer that may not be true by asking to direct a question 
  • think about the order in which you ask questions 
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TESTE DEIN WISSEN

ways to present data from market research (4) 

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TESTE DEIN WISSEN
  • a table 
  • tally chart 
  • a chart 
  • a graph 
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TESTE DEIN WISSEN
define interviews 
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TESTE DEIN WISSEN
interviews involve asking individuals a series of questions, often face-to-face or over the phone 
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TESTE DEIN WISSEN
define secondary research 
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TESTE DEIN WISSEN
secondary research is information that has already been collected and is available for use by others 
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TESTE DEIN WISSEN
advantages of primary research (5)
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  • it is up-to-date and relevant to the business undertaking it 
  • it is first-hand 
  • it is usually planned and carried out by the person who wants to use the data
  • it is most effective when it is used to gather information which will help the business with a specific problem 
  • it is not available to other businesses 
Lösung ausblenden
TESTE DEIN WISSEN
define focus group 
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TESTE DEIN WISSEN
a focus group is a group of people who are representatives of the target market 
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TESTE DEIN WISSEN
information gathered by market research (2)
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TESTE DEIN WISSEN
  • primary research 
  • secondary research 
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  • 4247 Karteikarten
  • 195 Studierende
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Beispielhafte Karteikarten für deinen 11. market research Kurs an der University of Birmingham - von Kommilitonen auf StudySmarter erstellt!

Q:
define market research 
A:
market research is the process of gathering, analysing and interpreting information about its market
Q:
the role of market research is to find these answers: (7)
A:
  • will customers be willing to buy the product 
  • what price would customers be prepared to pay 
  • where would they be most likely to buy the product 
  • what features of the product do customers most like or dislike 
  • what type of customer would buy the product 
  • what type of promotion would be effective with the type of customers 
  • how strong is the competition and who are the main competing businesses
Q:
define product oriented business 
A:
a product oriented business is one whose main focus is on the product itself 
Q:
define market oriented business 
A:
a market oriented business is one which carries out market research to find out consumers wants before a product is developed or produced 
Q:
define quota sample 
A:
a quota sample is when people are selected on the basis of custom characteristics as source of information for market research 
Mehr Karteikarten anzeigen
Q:
ways to write questions for questionnaires (6) 
A:
  • no more than twelve questions 
  • keep questions short and clear 
  • give a choice of age groups 
  • avoid open-ended questions unless people's opinions are sought 
  • be careful not to lead interviewee into an answer that may not be true by asking to direct a question 
  • think about the order in which you ask questions 
Q:

ways to present data from market research (4) 

A:
  • a table 
  • tally chart 
  • a chart 
  • a graph 
Q:
define interviews 
A:
interviews involve asking individuals a series of questions, often face-to-face or over the phone 
Q:
define secondary research 
A:
secondary research is information that has already been collected and is available for use by others 
Q:
advantages of primary research (5)
A:
  • it is up-to-date and relevant to the business undertaking it 
  • it is first-hand 
  • it is usually planned and carried out by the person who wants to use the data
  • it is most effective when it is used to gather information which will help the business with a specific problem 
  • it is not available to other businesses 
Q:
define focus group 
A:
a focus group is a group of people who are representatives of the target market 
Q:
information gathered by market research (2)
A:
  • primary research 
  • secondary research 
11. market research

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