Market research is needed so that the business can find out what the customers needs are and what they expect and like so that they can then change their product/service so it will do well and customers will like it.
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What is a market?
A market is any place where buyers and sellers meet to trade products
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What is primary research?
Primary research is field research where new data is collected that hasnt been found before. This can be from surveys and questionairs
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What is secondary research?
Secondary research is desk research that has already been found out for you and it can be found on the internet and in newspapers and magazines
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What is quantitative market research?
It is the collection of information about the market based on numbers
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What is qualitative market research?
the collection of information about the market based on subjective factors such as opinions and reasons
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Other cards in this set
Card 2
Front
What is a market?
Back
A market is any place where buyers and sellers meet to trade products
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