https://padlet.com/283887581/tyoeqv8cfeqw KWL Chart en-us 2019-10-17 04:07:05 UTC 2024-07-24 18:35:47 UTC hello@padlet.com https://padlet.net/icons/png/1f50d.png 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837412 Pros
-collect both qual & quant 
-suit specific needs
-simple process
-up-to-date
-confidential & unique
Cons
-time-consuming
-costly
-need large sample base
-validity]]> 2019-10-17 04:07:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837412 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837413 -with a specific purpose
- low/high cost, time efficient, cover large geographical group,  low response rate, resource used
-include both open-ended and closed questions (qualitative, quantitative info.)
-avoid bias, technical language, irrelevant questions to make answers more accurate and authentic
-pre-test ]]> 2019-10-17 04:07:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837413 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837414 -one-to-one
-personal circumstances, opinions, beliefs, attitudes, feelings
-identify differences between respondents

Cons
-difficult to analyse
-very time-consuming]]> 2019-10-17 04:07:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837414 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837415 -invite user to have group discussion on new plan or product, give feedback after testing
-audiovisual recorded
-Consumer panels (target market sample) or specialists

Con:
-conform to majority view
-participants often have to be paid

]]> 2019-10-17 04:07:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837415 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837416 -market research aims to discover customer needs & wants, opinions, expectations, beliefs
-it's usually done in one-off (i.e.ad hoc) or on-going (i.e. continuous research) format ]]> 2019-10-17 04:07:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398837416 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398838618 -get up-to-date information
-current trend
-introduce new marketing strategies
-meet customer's needs & wants
-understand rival's activities and behavior
-predict future trend & performance]]> 2019-10-17 04:13:12 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398838618 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398839194 -field research (not necessarily done by the business) to gather first-hand data
-fist-hand resource
-staff satisfaction
-customer buying pattern
-changes in market trend]]> 2019-10-17 04:16:34 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398839194 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398849124 -controlled condition (external variables)
e.g. queuing times, traffic audits]]> 2019-10-17 05:22:22 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398849124 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398852083 -second-hand information previously gathered by others e.g. government, news articles, internal sources such as the organization itself]]> 2019-10-17 05:42:09 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398852083 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398853106 -characteristics and trends for a particular product or industry e.g. market size, market share, growth rate
-help to formulate business plan & strategies market]]> 2019-10-17 05:49:03 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398853106 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398853925 -articles written by industry experts and academics
-distribute and share theoretical
work and market research findings]]> 2019-10-17 05:54:17 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398853925 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398854275 -ABS]]> 2019-10-17 05:56:02 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398854275 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398854375 -newspaper, tele documentary, books, www., ... ]]> 2019-10-17 05:56:44 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398854375 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398854630 Pros
-cheaper & faster
-gives insight to changes or trends in an industry
-huge range of sources
-large sample size, results more valid

Cons
-maybe outdated
-unspecified purpose, does not suit the need of the firm
-provide only partial information, not address the problem of the researcher
-sources available to competitors as well]]> 2019-10-17 05:58:13 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398854630 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398855501 -ask for consent for photography or visual recording
-do not manipulate findings in favor of personal preferences
-do not use information collected to harm them
-honesty ]]> 2019-10-17 06:03:00 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398855501 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398856152 -non-numerical answers and opinions from respondents
-purpose: understand behavior, attitudes and perceptions of customer, employees,... 
-in-depth interview or open-ended questions.]]> 2019-10-17 06:07:28 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398856152 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398856450 -factual and measurable
information rather than people's opinions
-closed questions e.g. yes/no, mcq]]> 2019-10-17 06:09:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398856450 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398856504 Pros
-better for exploring motivators
-rich data, flexibility in gathering extra data
-inexpensive
-one-on-one, helps participants to provide genuine opinions

Cons
-small sample size, might not be representative of the whole population
-time consumer in collecting and interpreting findings
-higher cost, hiring skilled interviewers/interviewing expertise
-interviewer bias may affect validity]]> 2019-10-17 06:09:28 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398856504 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398857520 Pros
-easier to collect and analyse
-large sample size, more representative of the population
Cons
-do not reveal the reason behind data
-costly to undertake due to large sample size ]]> 2019-10-17 06:15:15 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398857520 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398858841 -a certain number of people from different market segments is selected, e.g. gender, age, occupation
-relatively representative sample obtained quickly 
-sampling errors]]> 2019-10-17 06:22:27 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398858841 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398861988 -practice of selecting a small group (or sample) of the population for a
particular market for primary research purposes]]> 2019-10-17 06:36:29 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398861988 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398863133 -the respondents are  randomly chosen by a computer, which is easier with minimized bias
-most useful when population have same characteristics
-indiscriminate]]> 2019-10-17 06:40:57 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398863133 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398863917 -population segmentation 
-samples are more representative of a particular segment, so that findings will be more relevant with less errors
-strata is difficult to select
-expensive]]> 2019-10-17 06:44:04 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398863917 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398865438 -select geographical location & randomly interview
-quicker, easier, cheaper if the population are widely dispersed and when customers are homogeneous
-bias and sampling error, people who live in the same location might share similar views and characteristics]]> 2019-10-17 06:50:06 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398865438 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398866165 -individuals who then suggest other friends, family members
or colleagues to increase the sample size
-use when population is not clear
-easy and cheap to obtain relevant contacts for enlarging the sample ]]> 2019-10-17 06:52:25 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398866165 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398867024 -Convenience sampling relies on ease of reach and volunteers
because of their availability
-inadvertently exclude a large proportion of the population]]> 2019-10-17 06:55:12 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398867024 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/398868279 -needs to be accurate, especially during data collecting process
-sample needs to be as big as possible, needs to be representative
-survey/interview questions needs to be clear and free from misunderstanding
-data analysis can use bar charts, pie charts, line graphs... ]]> 2019-10-17 07:00:17 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/398868279 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913360 -Tangible: computers
-intangible (service): education 
-consumer product
-commercial product
-fast-moving consumer goods: groceries 
-consumer perishable: dairy, flowers
-consumer durable: smartphone, furniture, cars 
-speciality products: housing, designer brand]]> 2019-10-20 01:35:17 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913360 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913576 have varying effects on a firm's level of investment, profits and cash flow ]]> 2019-10-20 01:38:05 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913576 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913602 design
prototype
market research
test marketing
trialing: consumer reaction & feedback
minimize cost
can be expensive & confidentiality
No profit, high investment, negative cashflow 只有投入，没有回报]]> 2019-10-20 01:38:25 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913602 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913777 market planning, marketing
Enhance brand awareness
incur cost, e.g. publicity, promotion, distribution
relatively low sales, high cost
high investment, negative cash flow]]> 2019-10-20 01:40:09 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913777 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913958 increase sales revenue
building brand awareness
persuade customer to purchase
increase distribution
low unit costs, rising profit 
attract rivals enter the market]]> 2019-10-20 01:41:53 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399913958 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399914079 high revenue
favorable cash flow and profit 
obtain more market share
emphasize brand loyalty
more promotional activities to remind customer
exploit new market segment ]]> 2019-10-20 01:43:11 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399914079 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399914432 lower customer demand
due to changing fashion & taste, new replacing model 
little profit, falling cash flow ]]> 2019-10-20 01:47:14 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399914432 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399914840 -price reduction
-redesigning 
-repackaging
new market
-brand extension
-differentiation, e.g. quality, design, customer service 

]]> 2019-10-20 01:51:29 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399914840 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399915016 Help to decide which product should receive more/less investment, thus develop strategies
Build a diver product porfolio is important for a firm's cash flow. ]]> 2019-10-20 01:53:29 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399915016 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399915654 -legal identity, unique and recognisable by customer
-risk reducer, encourage brand awareness, promoting and sustaining loyalty]]> 2019-10-20 02:00:22 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399915654 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399923794 -competitive yet also profitable 
-affect corporate image of a business]]> 2019-10-20 03:34:51 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399923794 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399923861 -cost+ % (exact amount)
-e.g. cups of coffee ]]> 2019-10-20 03:35:38 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399923861 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924031 -low price when entering a new market, establish new product in the industry 
-新产品，因为对市场不熟悉，采取薄利多销的形式
-e.g. fast moving consumer goods 
-customer: 便宜没好货]]> 2019-10-20 03:37:51 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924031 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924215 - technological advanced innovative product
-due to high development cost
-premium price==> maximised profit, unique and prestigious image 
-when competitors enter the market, the company should reduce the price (price skim) ]]> 2019-10-20 03:40:14 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924215 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924516 -14.99$ , make prices seem lower ]]> 2019-10-20 03:44:16 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924516 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924622 -selling a product below its cost value ]]> 2019-10-20 03:45:26 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924622 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924848 -same product, usually a service, is sold at different prices to different customers ]]> 2019-10-20 03:48:39 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399924848 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399925047 best-selling products or brands in a particular market. Customers perceive there to be few substitutes for such products so the dominant
firm can set its own prices.]]> 2019-10-20 03:51:43 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399925047 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399925184 -temporarily reducing price in an attempt to force rivals out of the industry as they cannot compete profitable. ]]> 2019-10-20 03:53:01 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399925184 283887581 https://padlet.com/283887581/tyoeqv8cfeqw/wish/399925749 2019-10-20 03:59:25 UTC https://padlet.com/283887581/tyoeqv8cfeqw/wish/399925749