RO67 topic 2

When is market research carried out?

• When your product is finished.

• When you've started to develop your product.

• Before you've started to develop your product idea.

Market research is to find out ..... (select two)

• What potential customers want

• If you like the product or service you're creating

• What potential customers need

• What type of business to set up.

What types of market research are there? select two

• Tertiary research

• Primary research

• Developmental research

• Secondary research

What is primary research?

• Creating your own methods of gathering data

• Using sources of data which already exist

What is secondary research?

• Creating your own methods of gathering data

• Using sources of data which already exist

Is this statement a disadvantage of primary or secondary research:

"Data could be out of date or unreliable"

• Primary

• Secondary

Is this statement a disadvantage of primary or secondary research:

"The data takes time to generate"

• Primary

• Secondary

Is this statement a disadvantage of primary or secondary research:

"These methods are expensive to carry out"

• Primary

• Secondary

Is this statement a disadvantage of primary or secondary research:

"The information might not suit the business needs"

• Primary

• Secondary

Is this statement a advantage of primary or secondary research:

"Data will suit the business requirements"

• Primary

• Secondary