Market Research

Flashcards covering key concepts and definitions related to market research.

Market Research

The process of gathering, analyzing and reporting data related to a particular market.

Primary Research

New data collected specifically for the business’ needs, often through surveys, interviews, focus groups, and observations.

Secondary Research

Data that already exists, gathered for another purpose, and is usually quicker and cheaper to collect.

Qualitative Research

Research that collects opinions, attitudes, and beliefs, typically through interviews and focus groups.

Quantitative Research

Research that collects numerical data that can be measured, often used in surveys.

Sampling Methods

Techniques used to select a representative group from a target population for research purposes.

Surveys

A primary research method used to collect information from a target audience using structured questions.

Interviews

A primary research method that involves a conversation between an interviewer and interviewee to gather detailed information.

Focus Groups

A small group of people who discuss a particular product or idea to gather insights and opinions for research.

Observation

A method of collecting data by watching people's behavior in a specific environment.