Test revision (17/01/18) by Mackenzie Shaw https://padlet.com/13mshaw/f98g80xhckgx Market research en-us 2018-01-17 14:08:26 UTC 2018-01-17 14:36:36 UTC hello@padlet.com Two types of market research 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222066095
  • Primary (field) research is newly created research.
  • Secondary (desk) research is pre-existing research. 
    • ]]>     2018-01-17 14:14:10 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222066095     What is market research? 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222067638 Market research is the collecting and gathering of data and is about the customers, the competitors and the market.]]> 2018-01-17 14:18:03 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222067638 The 4P's 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222068315
  • Product
  • Place
  • Price
  • Promotion
    • ]]>     2018-01-17 14:19:43 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222068315     Methods of market research 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222069345
  • Primary: questionnaires, interviews, surveys, focus groups and observations.
  • Secondary: online, newspapers, books, articles, business reports and magazines. 
    • ]]>     2018-01-17 14:22:06 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222069345     Positives and negatives of primary market research 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222070718
  • Positives: accurate, can personalize the questions, private (puts you at an advantage) and you can choose the sample size.
  • Negatives: time-consuming, needs a cover to carry out actual job, cost in money, I.T skills required and may not get the right customers to take part.
    • ]]>     2018-01-17 14:25:23 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222070718     Positives and negatives of secondary market research 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222072122
  • Positives: quick to access, easier than gathering your own research and no/less I.T skills required. 
  • Negatives: may be biased, inaccurate or out-of-date. Cannot personalize the data. 
    • ]]>     2018-01-17 14:28:54 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222072122     Key terms 13mshaw https://padlet.com/13mshaw/f98g80xhckgx/wish/222073600
  • Questionnaires (types): yes/no, category, multiple choice and sliding scale.
  • Focus groups: where a business chooses a group of people and they are asked the same questions and the business gets feedback from the groups' responses. 
  • Internal means inside the business e.g. business reports and external means outside the business e.g. websites (government).
    • ]]>     2018-01-17 14:32:27 UTC https://padlet.com/13mshaw/f98g80xhckgx/wish/222073600