Please enable JavaScript.
Coggle requires JavaScript to display documents.
Market Research (Factors influencing the accuracy of market research data,…
Market Research
Factors influencing the accuracy of market research data
How carefully the sample was drawn up
How the phrase of the questions ensure honest response
The sample selected
Size of the sample
The wording of the question
Who carried out the research
Bias
Age of the information
Presentation of market reasearch data and methods
Presentation
The raw data must be converted into a form which is easy to understand
The significant point need to be made clear
Table or tally chart
Usually used to record the data in its original form
Methods
Chart
Show at a flance which countries have the biggest percentage of sales and which have the lowest
The proportion of each piece of data in terms of the total number
Shows the total figures for each piece of data
Graph
Variables
Total cost
Time
Used to show relationship between two sets of data
Who carries out market research?
Businesses can carry out their own research into different aspects of the market for their existing product or the possible market for a new product
The business may decide that it can afford to pay a specialist market research agency which will carry out whatever research it is asked to do