Market Research

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What is market research?

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Collection and analysis of data to inform a business of its market

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What is primary research?

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Market research conducted by the business

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7 Terms

1
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What is market research?

Collection and analysis of data to inform a business of its market

2
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What is primary research?

Market research conducted by the business

3
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What is secondary research?

Market research conducted by other businesses

4
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What are some limitations of market research?

  • Bias

  • Outdated

  • Accuracy

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What is questionnaire bias?

Communication barriers

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What is sampling bias?

Not representative sample

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What is respondent bias?

Exaggerating or lying