Market Research Flashcard

Front

Which data collection technique involves observing and recording consumer behavior?

Back

observational research

Front

What is the purpose of survey design in market research?

Back

To gather data and insights from a target audience for informed business decisions.

Front

What is the difference between primary and secondary market research?

Back

Primary market research involves collecting data directly from the source, while secondary market research involves using existing data that has already been collected by someone else.

Front

Which data collection technique involves gathering information from a small group of people?

Back

focus group

Front

What are the advantages of using surveys for market research?

Back

Surveys provide a quick and cost-effective way to gather large amounts of data from a diverse group of people.

Front

What are the limitations of using secondary market research?

Back

Outdated or inaccurate information, lack of specificity to research objectives, and limited control over data collection process.

Front

Which data collection technique involves analyzing existing data sources?

Back

Secondary data analysis