Market Research Flashcard

Front

What is the primary purpose of conducting market research?

Back

To reduce the risk in making business decisions

Front

Which best describes quantitative research?

Back

Strives for a large enough sample size so that results can be projected upon a larger population, and results are measurable and can be counted.

Front

Research where thoughts, opinions, and observations are collected that cannot be expressed in numbers is _____

Back

Qualitative research

Front

A guided discussion with a small group of participants is a(an) ________.

Back

Focus group

Front

_______ is a top factor in determining the cost of a survey research study.

Back

Reaching the correct target market

Front

What is the purpose of a focus group?

Back

To gather feedback, opinions, and brainstorming

Front

What is a sample in market research?

Back

A subset of the target market

Front

What is a target consumer/target market?

Back

The population of consumers with a need or desire for a product or service

Front

Which type of research involves gathering and analyzing existing information previously collected by the same organization?

Back

Internal Secondary Research

Front

What are common key factors to consider when determining whether to engage in market research practices?

Back

Level of risk, cost of data collection method, type of data required, and deadline