Market Research

Description

Business Unit 1 Mind Map on Market Research, created by Charlotte Webber on 16/05/2013.
Charlotte Webber
Mind Map by Charlotte Webber, updated more than 1 year ago
Charlotte Webber
Created by Charlotte Webber over 11 years ago
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Resource summary

Market Research
  1. Marketing- satisfying customers wants for a product and also meets needs of the company
    1. Market Research- the system in which to find information out to help the marketing process
      1. Primary Research- Collecting information first hand
        1. Surveys
          1. Experiments
            1. Focus groups
              1. Observation
                1. Samples
                  1. Questionaires
                    1. Personal Interviwes
                      1. First hand
                        1. Accurate
                          1. Under your control
                            1. Specific to your purpose
                            2. Secondary Research- the use of information which is collected by someone else for a different purpose
                              1. government publications
                                1. Newspapers
                                  1. Company records
                                    1. Internet
                                      1. Stock market
                                        1. Cheaper
                                          1. Quicker
                                          2. Qualitative Market Research- research collected on a matter of opinions and reasons
                                            1. Quantitative Market Research- research based on numbers
                                              1. Sample- group of respondents on their views as a target market as a whole
                                                1. Random Sample: each member of the target population has an equal chance of being chosen.
                                                  1. Quota Sample: group of people all who one thing in common (age, gender) to reflect a percentage and picked non-randomly
                                                    1. Stratified Sample: respondents picked on specific feature (age, gender) sub-group and size chosen specifically
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