Answer each of these questions in about 50 words: To be characterized as good market information, enlist any four essential characteristics to be possessed by it. Define ‘Research Instruments’. Give one major difference between ‘Market Research and Market Survey’. List the types of market survey conducted to extent information.
Answers
Answer:
An effective market survey uses the principles of the scientific method such as, careful observation, formulation of hypotheses, prediction and experience.
Explanation:
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Answer:
Following are the characteristics of good market information
- clarity, completeness, relevance, accuracy, confidentiality, authenticity, economy and precision.
Research Instruments :-- Research instruments mean the instruments, tools methods or techniques employed in research for gathering the information/response. For example, Market Survey.
Major difference between 'Market Research and Market Survey' :-- Market survey is a small concept as it is a method of conducting market research.
Types of market survey conducted to extent information :--
Personal Interviews
Telephonic Interviews
Direct mail Interviews
Fax/e-mail Interviews