10 Questions
What type of information can be found in reports published by trade associations and journals?
Valuable information on markets and trends
What is a key publication that provides a lot of information from various agencies?
Annual Abstract of Statistics
What is the aim of qualitative market research?
To find out about the attitudes and opinions of consumers
What type of groups are involved in collecting qualitative market research data?
Small groups such as focus groups
What can qualitative market research reveal about consumer reactions?
Reactions to products, pricing, packaging, branding
What is the main characteristic of quantitative market research data?
Can be analyzed statistically and represented in charts and graphs
How can quantitative market research be used?
To demonstrate sales potential, market size, etc.
What type of research focuses on attitudes and opinions of consumers?
Qualitative research
What is one way in which qualitative and quantitative market research differ?
Qualitative research is collected in small groups, while quantitative research focuses on statistical analysis
How can businesses benefit from consumer reactions revealed by qualitative market research?
Designing products that are more appealing to consumers
Learn about setting marketing objectives as part of the overall corporate business objectives and strategy. Explore objectives related to sales volume, sales value, and market size.
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