73381
Description
Mind Map by bennevin26, updated more than 1 year ago
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Created by bennevin26
over 11 years ago
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Research
- Primary
- First hand information
gathered about a market
which has been self
collected
- Advantages
- Up to date
- Asks the questions
you want to know
- Collects results
nobody else has
access to
- Up to date
- Disadvantages
- Time consuming
- Costly
- May be biased due to
who has been asked.
(Generalisable)
- Time consuming
- First hand information
gathered about a market
which has been self
collected
- Secondary
- Research that already
exists and has been
collected by someone else
for another purpose
- Advantages
- Cheap
- Fast
- Can still answer
the questions you
want to be asked
- Cheap
- Disadvantages
- May not answer
the question you
want to be asked
- May be out of date
- Anyone has access to the info
- May not answer
the question you
want to be asked
- Research that already
exists and has been
collected by someone else
for another purpose
- Product Trial
- Research conducted on a sample of
people to determine the success of the
product and to find out how any
improvements can be made
- Advantages
- Helps identify any
flaws the product has
- Helps to find out how well
the product will do
- Customers opinions
are taken into
account in order to
improve the product
- Helps identify any
flaws the product has
- Disadvantages
- Make the product
available to
competition
- Costly
- Sample size can
often be too small
to generalize
- Make the product
available to
competition
- Research conducted on a sample of
people to determine the success of the
product and to find out how any
improvements can be made
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