Conducting Start-up Market Research

Question	Answer
Marketing	The anticipation and satisfying of customers wants in a way that delights consumers and also meet organisational needs.
Market Research	The systematic and objective collection, analysis and evaluation of information that is intended to assist the marketing process.
Primary Market Research	The collection of first-hand information for a specific purpose.
Secondary Market Research	The use of information that has already been collected for a different purpose.
Qualitative Market Research	The collection of information about the market based on subjective factors such as opinions and reasons.
Quantitative Market Research	The collection of information about the market based on numbers.
Sample	A group of respondents or factors whose views or behaviours should be representative of the target market as a whole.
Random Sample	A group of respondents in which each member of the target market has an equal chance of being chosen.
Quota Sample	A group of respondents compromising of several different segments each sharing a common feature e.g. gender, age. The number of respondents in each segment reflects their percentage in the total target population but are selected non-randomly.
Stratified Sample	A group of respondents selected according to particular features e.g. age, gender. The final selection is left to the interviewer, sub-groups and sizes are chosen specifically.

Resource summary

	Created by katie.swift.ks almost 11 years ago