Customer Needs - Identifying customer needs

Question 1

define market research

Answer 1

identifying customer needs and wants through the collection and analysis of data about a target market

Question 2

define primary research?

Answer 2

research done by the business for the first time

Question 3

define secondary research?

Answer 3

accessing research already completed

Question 4

advantages of primary research?

Answer 4

• directly focussed to research objectives = fit for purpose
• up to date
  detailed insights into customer views

Question 5

disadvantages of primary research?

Answer 5

• time consuming
• costly
• risk of survey bias

Question 6

advantages of secondary research?

Answer 6

• free and easy to obtain
• good source of market insights
• quick to access and use

Question 7

disadvantages of secondary research?

Answer 7

• out of date
• not tailored to research needs
• specialist reports are expensive