Please enable JavaScript.

Coggle requires JavaScript to display documents.

4.4 market research - Coggle Diagram

- - - - they enable researches to collect a large amount of data in a relatively short period of time
      - if designed well, surveys can be administered and completed easily by the respondents
      - surveys can be used to collect information on a wide range of aspects, including attitudes, preferences, and opinions
    - - poorly constructed and administered
      - responses may not always be reflecting how they feel
      - large samples may be costly and time consuming to construct
  - - - can provide detailed information about perception and opinions
      - they usually achieve a high response rate
      - precise wording can be tailored to the respondent and meaning of questions clarified
    - - whole process can be very time consuming
      - some interviews may be biased
  - - - cheap and easy due to size
      - can be used to measure reaction of customers to a new product
      - helps identify key product requirements
      - provide an idea on the current position of the firm's competitors in the mind of the consumer
    - - opinions may not reflect the whole markets opinion
      - some groups may not express their honest opinions to fit in with other participants
      - focus groups are more costly to set up than surveys
  - - - direct method of collecting data when studying actual human behaviour
      - a large number of individuals can be surveyed in a short space of time
      - observations are cost effective measure of gathering data
    - - complete answers cannot be obtained from observations alone