Learning objective
Identify benefits and drawbacks of market research techniques and select the best method for a given business.
Read the explanation, check the common trap, then practise with flashcards and questions.
At a glance
0
Flashcards
0
Questions
Topic
The purpose and methods of market research
Subtopic
Qualitative, quantitative and decision-making data
Study support
Understand this objective
Quick explanation
Identify benefits and drawbacks of market research techniques and select the best method for a given business
- This point belongs to The purpose and methods of market research, especially Qualitative, quantitative and decision-making data.
- You need to be able to identify benefits and drawbacks of market research techniques and select the best method for a given business.
- The key ideas to know are benefits, techniques, and market.
- Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.
Key concepts
Why it matters
This objective helps connect Qualitative, quantitative and decision-making data to exam-style questions, flashcards, and revision notes for The purpose and methods of market research.
Quick student answer
Explain one benefit and one drawback of using focus groups for market research in an online service business.
Direct answer
Benefit: Focus groups generate rich qualitative insights into user perceptions and motivations, helping to refine service features. Drawback: They are time‑consuming, costly, and may suffer from groupthink, limiting the reliability of the findings.
How it works
The answer identifies a clear advantage (depth of insight) and a limitation (resource intensity and potential bias), directly addressing the question.
Key terms
- Market research technique: A systematic method used to collect, analyse and interpret data about a market, product or service, such as surveys, focus groups, observation or secondary data analysis.
Common trap
Confusing primary and secondary research: Secondary research can be costly if the data is proprietary or requires licensing; primary research may be cheaper for specific, up‑to‑date information.
Related questions
Try this as a practice card
Question 1 of 1
Choose an answer, get feedback, then move sideways through the set.
Flashcard prompts
Flip through the key recall cards
Flashcard 1 of 2
Practise next
Revision tools
Choose how to practise
Flashcards0 linked cards
Practice Questions0 linked questions
Revision notestopic notes
Open the full topic revision notes when you are ready to review this objective in context.
Open revision notesRelated learning objectives
- Explain why businesses conduct market research, including identifying opportunities and understanding customers and competitors.
Purpose and methods of market research
- Explain primary and secondary market research methods, including questionnaires, surveys, interviews, focus groups, internet research and printed press.
Purpose and methods of market research
- Distinguish qualitative and quantitative market research.
Qualitative, quantitative and decision-making data
- Interpret and use qualitative and quantitative market research findings to support business decisions.
Qualitative, quantitative and decision-making data
- Manipulate and interpret data from tables and charts.
Qualitative, quantitative and decision-making data