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IGCSE Business Studies Key Terms 11 Flashcards | StudBud
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IGCSE Business Studies Key Terms 11
IGCSE Business Studies Key Terms 11
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1
the proces of collecting, recording & analysing data about customers, competitors & market
Secondary research
Primary research
Market research
2
the firm decides what to produce and then tries to find buyers for the product
Product-orientated
Market-orientated
Sample
3
the collection of data from second-hand sources
Qualitative research
Primary research
Secondary research
Quantitative research
4
a representative sample of the target market selected to take part in market research
Sample
Market research
Unique selling point
Test
5
the collection of information about consumer buying behavior and their opinions about products
Qualitative research
Quantitative research
Primary research
Secondary research
6
the collection of numerical data that can analysed using statistical techniques
Qualitative research
Secondary research
Quantitative research
Primary research
7
the collection of first-hand data for the specific needs of the firm
Qualitative research
Secondary research
Quantitative research
Primary research
8
products are developed based on cunsumer demand as identified by market research
Product-orientated
Sample
Market-orientated
9
the special feature of a product that sets it apart from competitors
Sample
Unique selling point
Market research
