IBDP Business Management 4.4 market research

survey

It is a document that contains a series of questions

used to collect data for a specific purpose. Surveys are the most common method of primary research.

Academic journals

They are periodical publications from educational and research institutions that publish data and information relating to a particular academic discipline.

Ad-hoc market research

It is market research conducted as and when required in order to deal with a specific problem or issue.

Continuous market research

It is market research conducted on an ongoing basis, rather than a one-off (ad-hoc) basis.

Convenience sampling

It uses research participants who are easy (convenient) to reach. It relies on the ease of reach because of the convenient availability of volunteers.

Focus groups

They involve forming small discussion groups to gain insight into the attitudes and behaviour of respondents. Te

group is typically made up of participants who share a similar customer profile.

Government publications

They are a type of secondary market research, referring to official documents and publications released by government entities and agencies.

Interviews

They are a type of primary research that involve discussions

between an interviewer and interviewees to investigate their personal circumstances, preferences and opinions.

market analysis

It is a form of secondary market research that reveals the characteristics, trends and outlook for a particular product or industry, such as market size, market share and market growth rate.

Market research

It refers to marketing activities designed to discover the opinions, beliefs and preferences of potential and existing customers.

Media articles

They are a type of secondary market research referring

to the documents (articles) in print or online media. They are written by skilled journalists and authors.

Observations

They are a method of primary research that involves

watching how people behave or respond in different situations.

Online secondary market research

It refers to sources available on the Internet for research purposes. Tese include media articles, government publications, academic journals and market analyses available on the Internet.

population

It, in marketing terms, refers to all potential

customers of a particular market.

Primary market research

It involves gathering new data for a specific purpose, using methods such as surveys, interviews, focus groups and observations.

Qualitative market research

It involves getting non-numerical responses from research participants in order to understand their behaviour, attitudes and opinions.

Quantitative market research

It is about collecting and using factual and measurable information rather than people's perceptions and opinions.

Quota sampling

It involves using a certain number of people (known as the quota) from different market segments for primary market research purposes.

Random sampling

It gives everyone in the population an equal chance of being selected for the sample.

sample

It is a selected group or proportion of the population

used for primary market research purposes.

Sampling

It is a primary research technique that selects a sample of the population from a particular market for research

purposes.

Sampling errors

They are caused by mistakes made in the sample

design, such as an unrepresentative sample being used or the sample size being too small.

Secondary market research

It involves the collection of second-hand data and information that already exists, previously gathered by others, such as media articles and government

publications.