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Market Research - Coggle Diagram
Market Research
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Secondary Reasearch
Advantages
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A reliable source to get a market overview, e.g. The Office of National Statistics (ONS).
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Market Research: The collection, analysis and interpretation of information relating to the marketing and consumption of goods and services.
Quantative Research: The collection of data that can be measured; statistical data such as sales figures or market share, e.g. how many consumers may prefer to pay for a full gym membership and how many prefer to ‘pay as you go’.
Market Orientation: An approach to business which places the needs of consumers at the centre of the decision-making process.
Product Orientation: An approach to business which places the emphasis upon the production process and the product itself.
Qualitative Research: The collection of data about attitudes, beliefs, opinions and intentions, e.g. why consumers might prefer exercising outdoors rather than joining a local gym