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15
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Explain TWO disadvantages of primary market research
time consuming, costly, validity is questionable if poorly designed
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15
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Outline ONE advantage and ONE disadvantage of online content as a market research method.
easy to access, cheap vs. not trustworthy, not tailored
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15
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Explain TWO disadvantages of conducting interviews as a market research method.
Time consuming, huge scope for interviewer bias.
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15
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(HL) What is ONE opportunity and ONE threat of entering and operating internationally?
Greater economies of scale, larger markets vs. new laws, cultural barriers, established competition etc.
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15
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(HL) Explain TWO limitations of sales forecasting
past data not indicative of future, limited use for some firms (e.g. new firms / fashion brands), ignores qualitative data
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15
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Explain TWO advantages of secondary market research.
Readily available, wide range of sources, industry trends, large samples sizes (statistically significant),
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15
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What are TWO disadvantages of differentiation as a marketing strategy?
Highly expensive, could be replicated, wasteful (e.g. packaging)
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banana
Go to last place!
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seesaw
Swap points!
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gift
Win 15 points!
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thief
Give points!
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25
15
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Explain ONE advantage and ONE disadvantage of quota sampling.
Findings are more reliable than random sampling vs. not always representative depending on numbers chosen for each category
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15
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Identify FOUR secondary market research methods:
Market analyses, Academic journals, Government publications, Media articles, Online content
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15
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Identify THREE primary market research methods.
Surveys, Interviews, Focus groups, Observations
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15
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What is ONE benefit and ONE limitation of operating in the mass market?
economies of scale, large market size / customers vs. Intense competition, large amounts of spending on advertising
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thief
Give points!
5
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15
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25
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rocket
Go to first place!
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gift
Win 20 points!
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baam
Lose 20 points!
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15
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(HL) Explain TWO benefits of sales forecasting
drive strategic planning in a business, plan for the future, improve operational efficiency etc.
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15
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Identify the three sampling methods available to firms when conducting market research.
Quota sampling, random sample, convenience sampling
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lifesaver
Give 5 points!
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gold
Win 50 points!
Okay!
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gift
Win 10 points!
Okay!
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banana
Go to last place!
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