3.3.1,2,3 marketing

Front

What are the key marketing objectives?

Back

Sales volume and sales value, Market size, Market and sales growth, Market share, Brand loyalty.

Front

What role does the marketing department play in business objectives?

Back

The marketing department's objectives must align with the corporate objectives of the business, such as increasing market share to support business expansion.

Front

What is primary research?

Back

Data collected first-hand for a specific research purpose.

Front

What is secondary research?

Back

Data that already exists and has been collected for a different purpose.

Front

List some sources of primary data.

Back

Observation, Postal surveys, Telephone interviews, Online survey, Focus groups, Face-to-face surveys, Test marketing, Experiments.

Front

What are the benefits and drawbacks of primary research?

Back

Benefits: Up-to-date and relevant, Kept private to the business. Drawbacks: Expensive to obtain, Sampling may not be representative.

Front

List some sources of secondary data.

Back

Government departments, Market research reports from organizations like Mintel and Mori.

Front

What are the benefits and drawbacks of secondary research?

Back

Benefits: Often free or cheaper, Quick to access. Drawbacks: Can become quickly out of date, Not tailored to business needs.

Front

What is quantitative data?

Back

Data based on numbers and figures, easier to analyze.

Front

What is qualitative data?

Back

Data based on opinions, attitudes, beliefs, and intentions, more in-depth but harder to analyze.