1.1.2 Market research

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7 Terms

1
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Define product orientation

An approach to marketing that focuses on the characteristics of the product rather than the needs of the consumer

2
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Define market orientation

An approach to marketing that focuses on the needs of consumers and uses this information to design products that meet customer needs 

3
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Define market research

The objective collection, compilation and analysis of information about a market

4
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Define primary research

Process of gathering information directly from consumers in the target market using field research methods such as surveys, interviews, etc

5
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Define secondary research

Research that involves the collection, compilation, and analysis of data that already exists

6
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Define ICT

Information and communications technology

7
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Define market segmentation

Process in which a single market is divided into submarkets, or 'segments