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CHAPTER 11 - Coggle Diagram
CHAPTER 11
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Methods of Research
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Interviews
Interviewer can explain any questions that interviewees don't understand. Detailed info can be gathered whether the interviewee like or dislike about the product/service.
It could leads to inaccurate results from the interviewee due to interviewer bias. it can be very time-consuming.
Online surveys
Fast, with quicker responses than any other forms of surveys. Cheaper than interviews. Easy to complete for the participant. It can be easily presented and analyzed using IT tools.
Cannot reach potential respondents for those who doesn't have internet. Scope for fraud. Absence of interviewers to explain open-ended questions.
Questionnaires
Help obtain customer's opinions, it can be held online, detailed info about the product/service can be gathered.
Time-consuming, can take a lot of time and money, the information gathered can be irrelevant due to the inaccurate information of the question or the customer's understanding.
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Market research
Is the process of gathering, analysing and interpreting information about a market
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Market research methods
Primary research, of field research
Is the collection and collation of original data via direct contact with potential or existing customers
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Market-orientated
A market-orientated business is one which carries out market research to find out consumer wants before a product is developed and produced
Marketing budget
A marketing budget is a financial plan for the marketing of a product or product range for some specified period of time
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