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4.4 Glossary of key terms

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  • Unit 4 - Marketing/
  • 4.4 Market research/
  • 4.4 Glossary of key terms

Unit 4.4 Glossary of key terms - Market research

  • Focus groups involve forming small discussion groups to gain insight into the attitudes and behaviour of respondents. The group is typically made up of participants who share a similar customer profile.

  • Government publications are a type of secondary market research, referring to official documents and publications released by government entities and agencies.

  • Interviews are a type of primary research that involve discussions between an interviewer and interviewees to investigate their personal circumstances, preferences, and opinions.

  • A market analysis is a form of secondary market research that reveals the characteristics, trends, and outlook for a particular product or industry, such as market size, market share, and market growth rate.

  • Market research refers to marketing activities designed to discover the opinions, beliefs, and preferences of potential and existing customers.

  • Media articles are a type of secondary market research referring to the documents (articles) in print or online media. They are written by skilled journalists and authors.

  • Observations are a method of primary research that involves watching how people behave or respond in different situations.

  • Online secondary market research refers to sources available on the Internet for research purposes. These include media articles, government publications, academic journals, and market analyses available on the Internet.

  • The population, in marketing terms, refers to all potential customers of a particular market.

  • Primary market research involves gathering new data for a specific purpose, using methods such as surveys, interviews, focus groups, and observations.

  • Qualitative market research involves getting non-numerical responses from research participants in order to understand their behaviour, attitudes, and opinions.

  • Quantitative market research is about collecting and using factual and measurable information rather than people’s perceptions and opinions.

  • Quota sampling involves using a certain number of people (known as the quota) from different market segments for primary market research purposes.

  • Random sampling gives everyone in the population an equal chance of being selected for the sample.

  • A sample is a selected group or proportion of the population used for primary market research purposes.

  • Sampling is a primary research technique that selects a sample of the population from a particular market for research purposes.

  • Sampling errors are caused by mistakes made in the sample design, such as an unrepresentative sample being used or the sample size being too small.

  • Secondary market research involves the collection of second-hand data and information that already exists, previously gathered by others, such as media articles and government publications.

  • A survey is a document that contains a series of questions used to collect data for a specific purpose. Surveys are the most common method of primary research.