March 2023

A Level Business Studies: Using Interviews in market research

By |2023-03-22T15:37:32+02:00March 22nd, 2023|

  • Definition: Interviews are a primary research method that involves a conversation between an interviewer and a respondent, aimed at obtaining information for research purposes.

Differences between interviews and questionnaires:

  • Interviews are more flexible […]
    • Interviews are conducted verbally, while questionnaires are written.
    • Interviews are more flexible […]
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    A Level Business Studies: Systematic Sampling in Market Research

    By |2023-03-22T15:31:25+02:00March 22nd, 2023|

    • Systematic sampling is a type of probability sampling used in market research that involves selecting a random starting point from a population and then selecting every nth element from the population as a sample. Here are some features, situations where it’s appropriate, benefits, and drawbacks of using systematic sampling in market research:
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    A Level Business Studies: Stratified Sampling in market research

    By |2023-03-22T15:25:56+02:00March 22nd, 2023|

    • Stratified sampling is a statistical sampling technique in which a sample is drawn from a larger population by dividing it into homogeneous subgroups, called strata.
    • In other words, the population is divided into distinct groups or strata, and samples are then drawn from each group in proportion to the group’s size.
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    A Level Business Studies: Random Sampling and Market Research

    By |2023-03-22T14:57:24+02:00March 22nd, 2023|

    • Random sampling is a sampling technique used in marketing research to select a sample from a population, where each member of the population has an equal chance of being selected for the study.

    Distinguishing factor from other sampling techniques:

    • Random sampling is different from other sampling […]
      • Random sampling is different from other sampling […]
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    A Level Business Studies: What is secondary research?

    By |2023-03-22T07:20:45+02:00March 22nd, 2023|

    • Secondary research involves collecting and analyzing existing data that has been previously collected by someone else, such as government agencies, trade associations, or academic institutions.

    Features of secondary research:

    • Less expensive than primary research: secondary research can be much cheaper as data already exists […]
      • Less expensive than primary research: secondary research can be much cheaper as data already exists […]
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    A Level Business Studies: What is primary market research?

    By |2023-03-22T07:17:10+02:00March 22nd, 2023|

    • Definition: Primary research is the collection of new data directly from the source, through methods such as surveys, focus groups, and observation.

    Features:

    • Customized research: Primary research can be tailored to the specific needs of the business or organization. For example, a Zimbabwean company […]
      • Customized research: Primary research can be tailored to the specific needs of the business or organization. For example, a Zimbabwean company […]
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    A Level Business Studies: What is market research?

    By |2023-03-22T07:11:32+02:00March 22nd, 2023|

    • Definition: Market research refers to the process of gathering, analyzing, and interpreting information about a market, product, or service to make informed business decisions.

    Distinguishing Market Research from Marketing Research

    • Market research is a subset of marketing research that focuses specifically on understanding the […]
      • Market research is a subset of marketing research that focuses specifically on understanding the […]
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    A Level Business Studies: What is niche marketing?

    By |2023-03-22T06:51:45+02:00March 22nd, 2023|

    Definition: Niche marketing involves targeting a specific, narrow segment of the market with specialized products, services, or marketing strategies.

    Features of Niche Marketing:

  • Limited […]
    • Focused on a specific segment of the market
    • Products or services tailored to meet the unique needs of the niche
    • Limited […]
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    A Level Business Studies: Differences Between Niche and Mass Marketing

    By |2023-03-22T06:49:23+02:00March 22nd, 2023|

    • Mass marketing and niche marketing are two distinct marketing strategies that are used by businesses to reach their target market. Here are the differences between the two, using examples:
    1. Target Market
    • Mass marketing aims to reach a broad audience without […]
      • Mass marketing aims to reach a broad audience without […]
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    A Level Business Studies: What is mass marketing?

    By |2023-03-22T06:37:02+02:00March 22nd, 2023|

    • Mass marketing is a strategy that involves promoting and selling products or services to a large, diverse market without targeting specific segments. In mass marketing, companies aim to reach the largest possible audience through a one-size-fits-all approach.

    Features of mass marketing:

    • Large-scale advertising campaigns […]
      • Large-scale advertising campaigns […]
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