GCSE Business Studies Market Research 101

What is qualitative data?

• Data involving numbers
• Data involving information with no numbers
• Data with information that involves business' marketing strategies 
• data involving colors

What is an example of primary research?

• Magazine
• Observation
• Newspaper
• Government statistics

What is a problem with using secondary data?

• It is easy to find
• It is normally quicker to find
• You did not create it (it might be unreliable)
• You have to find the information yourself

Seeks open-ended responses. Answers questions about “why” and “how"

• Qualitative Research
• Quantitative Research
• Survey
• Questionnaire 

Marketing research:

• is used to obtain information for management to make more informed decision making.
• is the collection and analysis of data from a sample or census of individuals or organizations.
• includes all forms of market, opinion and social research such as consumer and industrial surveys.
• is work undertaken to determine either structural characteristics of the industry of concern.

Secondary data has two important advantages over primary data. It is:

• capable of compensating for rapid environmental changes and technical improvements.
• always available and complete.
• seldom obsolete and usually fits the dimensions of your problem.
• generally cheaper to gather than primary data and takes less time to find.

A common disadvantage of primary research for a startup is that:

• It is time-consuming to obtain
• It doesn't answer the questions asked
• It doesn't allow for qualitative questions
• It can't be done online

Which of these methods is an example of primary market research?

• Focus group talking about the product concept
• A google search for relevant newspaper artlicle
• A government report on the target market
• Mintel report on the target market

Which METHOD of research is being described here?
It is conducted face-to-face with customers and a series of questions are asked

• Personal interview
• Telephone survey
• On-line survey
• Focus group

What type of data is numerical?

• Quantitative
• Qualitative
• Primary
• Secondary