WHAT IS BUSINESS ?

business is an organisation and produces goods and services and exchanges things to customers.

WHAT IS A CUSTOMER ?

A customer is either a person or another business that buys goods from a different business.

WHAT IS A SUPPLIER ?

a supplier is a business that sell (supplies) products to another business.

WHAT IS A CONSUMER ?

a consumer is a person that uses (consumes) the product.

CHAPTER 2
MARKET RESEARCH

what is market research?

the action or activity of gathering information about consumers' needs and preferences.

what is primary research?

Primary research is new research, carried out to answer specific issues or questions. It can involve questionnaires, surveys or interviews with individuals or small groups.

what is secondary research?

Secondary research is collation and/or synthesis of existing research rather than primary research, where data is collected from, for example, researchsubjects or experiments.

what is qualitative data?

levels of measurement or scales of measure are types of data that arise in the theory of scale types developed by the psychologist Stanley Smith Stevens. The types are nominal, ordinal, interval, and ratio.

what is quantitative data?

Quantitative data is data expressing a certain quantity, amount or range.

Comment Stream