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Marketing
Quick questions on Role of marketing and market research explained: O-Level Business Studies
7short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the role of marketing?Show answer
Marketing is the management process of identifying, anticipating and satisfying customer needs profitably. Its role is to act as the bridge between the business and its customers. Good marketing:
What is the purpose of market research?Show answer
Market research is the systematic gathering and analysis of data about a market: customers, competitors and trends. Its purpose is to reduce risk by giving the business information before it commits money. It helps a firm decide what to sell, at what price, where, and how to promote it, and whether there is enough demand to launch at all.
What is primary research?Show answer
Primary research collects new, first-hand data for the firm's specific purpose. Methods include:
What is secondary research?Show answer
Secondary research uses existing data collected by others. Sources include government statistics, market reports, trade journals, internal sales records and websites. Secondary data is quick and cheap to obtain, but it may be out of date or not an exact fit for the firm's question.
What is q1?Show answer
Define the term market research. [2 marks]
What is q2?Show answer
State two methods of primary market research. [2 marks]
What is q3?Show answer
Explain one advantage and one disadvantage of using secondary research rather than primary research. [4 marks]
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