Please enable JavaScript.

Coggle requires JavaScript to display documents.

Market Research (accuracy of market research data is based on (the sample…

- - - - which answers question about the quantity of something
    - - which answers the questions where an opinion or judgement is necessary
- - - - detailed qualitative information can be gathered about the product /service
      - customers' opinions about the product/service can be obtained
      - they can be carried out online, which makes it cheaper and easier to collate or present the results
      - they can be linked to prize draws and prize draw websites to encourage people to fill in the questionnaire
    - - if the questions are not well thought out, the answers will not be very accurate and may be misleading to the business
      - carrying out questionnaires can take a lot of time and money
      - collating and analysing the results is also time-consuming
  - - - the interviewer is able to explain any questions that the interviewee does not understand
      - detailed information about what the interviewees like and dislike about the product can be gathered
    - - the interviewer could lead interviewee into answering in a certain way, resulting in inaccurate results due to interviewer bias
      - very time-consuming and are often expensive
  - - - people are selected at random (often by computer) to fill in a questionnaire or to interview
      - the advantage is that everyone has a chance of being picked, but not everyone in the population may be a consumer of the product
    - - when people are selected on the basis of certain characteristics e.g. gender or income
  - - - they can provide detailed information about consumers' opinions
    - - time-consuming, expensive and biased
  - - - meters can be fitted to monitor which television channels are being watched
    - - includes such activities as counting how many different types of vehicles pass particular billboards or posters, counting how many different types of people go into a particular shop and also come out having bought something
    - - the counting of stock in shops to see which products have sold well
    - - it is quite an inexpensive way of gathering data
    - - the information only gives basic figures, does not provide the business with reasons for consumer decisions
- - - - detailed source of general information about such things as the population and its age structure
    - - may have useful articles, e.g. general state of the economy and whether customer spendings are going to increase or decrease
    - - specialist agencies who carry out research on behalf of companies or anyone who commissions them. however, the detailed reports are expensive to buy
    - - provides an easily accessible source of a very wide range of information, including information on companies from their own websites. they are easy and quick to access
    - - often provides information for the business in that industry