Copyright 2006 – Biz/ed Marketing Understand marketing- research activities to show command of their nature and scope.
Copyright 2006 – Biz/ed Market Research
Copyright 2006 – Biz/ed Primary & Secondary Research Advantage of ______________ research – less expensive to collect then _____________.
Copyright 2006 – Biz/ed Internal Sources Examples: External Sources Examples: Secondary Research
Copyright 2006 – Biz/ed Sampling Methods
Copyright 2006 – Biz/ed Market Research – sample methods Random Samples – _________________ chance of anyone being ______________ –May select those not in the ______________ group – indiscriminate –Sample sizes may need to be large to be representative –Can be very __________________ Quota Sampling –Again – by segment –Not _____________ selected –Specific __________ on each segment are interviewed, etc. –May not be fully representative –___________ method
Copyright 2006 – Biz/ed Market Research Cluster Sampling –Primarily based on ___________________ areas or ‘clusters’ that can be seen as being representative of the whole ________________ Snowball Sampling –Samples developed from __________________ of existing customers – ‘__________________’ type approach!
Copyright 2006 – Biz/ed Market Research Primary Research –_____________________ hand information –________________________ to collect, analyse and evaluate –Can be highly focused and _________________ –Care needs to be taken with the approach and ______________________ to ensure accuracy –Types of question – ____________________ – limited information gained; open – useful information but _________________ to analyse
Copyright 2006 – Biz/ed Market Research Quantitative and Qualitative Information: Quantitative – based on __________ – 56% of 18 year olds drink alcohol at least ______________ times a week - doesn’t tell you ________, when, how Qualitative – more _____________ – tells you why, _______________ and how!
Copyright 2006 – Biz/ed Market Research Advantages of Market Research –Helps focus attention on __________________ –Aids ______________________, planning and strategic ___________________________ –Develops ______________ of typical customer –Contributes to business’ __________________ –Globalisation makes market information _____________________________ –If everyone’s on the same page – can keep the business from __________________ resources
Copyright 2006 – Biz/ed Market Research Disadvantages of Market Research –_______________________ only as good as the methodology ________________________ –Can be _______________________ or unreliable –__________________may _________________ be what the business wants to ______________! –May stifle initiative and ‘____________________’ –________________ that arise from research can be _______________________ of larger issues that need to be researched.