Unit 4, Section 4: Market Research

focus group

involve forming small discussion groups to gain insight into the attitudes and behaviour of respondents. The group is typically made up of participants who share a similar customer profile.

Government publications

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

interviews

are a type of primary research that involve discussions between an interviewer and interviewees to investigate their personal circumstances, preferences, and opinions.

Market Analysis

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

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

Media articles

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

are a method of primary research that involves watching how people behave or respond in different situations.

Online secondary market research

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

Population

in marketing terms, refers to all potential customers of a particular market.

Primary market research

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

Qualitative market research

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

Quantitative market research

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

quota sampling

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

random sampling

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

sample

a selected group or proportion of the population used for primary market research purposes.

Sampling

a primary research technique that selects a sample of the population from a particular market for research purposes.

sampling error

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

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

survey

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.