Stages of Market Research

What are the two main sources of data?

• Internal and External

• Primary and Secondary

• Private and Public sector

• Credible and Non-Credible

What is an example of Primary Sources?

• Textbook

• Novels

• Dictionary

• Letters

Define Non-Probability Sampling?

• Sampling technique in which the researcher choose samples from a larger population

• A subset of individuals from a larger population

• Any method of sampling that utilizes some form of random selection

• A sampling method in which not all members of the population have an equal chance of participating in the study.

Which of the following is not a method of Probability Sampling ?

• Stratefied sampling

• Quota sampling

• Cluster sampling

• Multi stage sampling

Which of the following is NOT a Research Technique?

• Focus Group

• In-depth Interview

• Sample

• Observation

What is TRUE about Focus Group?

• The group's discussion is guided by a moderator.

• This group consist of 3 persons.

• Only employees are apart of this group.

• Each meeting last for one hour.

Analysis of Data can be defined as

• A detailed examination of anything complex in order to understand its nature or to determine its essential feature.

• The organization of data into tables, graphs or charts, so that logical and statistical conclusions can be derived from the collected measurements.

• The quantities, characters, or symbols on which operations are performed by a computer, which may be stored and transmitted in the form of electrical signals and recorded on magnetic, optical, or mechanical recording media.

A market research can be considered successful when the researcher is able to state findings and conclusions at the end of the process.

• True

• False

A limitation of market research is;

• If the sample is not properly chosen it can be biased

• Minimize investment risk

• Helps to identify opportunities in the market place

• You can get consumers reaction to a new product or service Wishlist