Market research
Here are some vocabulary words related to market research for IELTS band scores 4.5-6.0:
-
Market Research:
-
The process of gathering and analyzing information about a market, including consumers, competitors, and trends.
-
-
Primary Research:
-
Data collected directly from original sources, such as surveys, interviews, and focus groups.
-
-
Secondary Research:
-
Existing data gathered from sources like government reports, industry publications, and academic studies.
-
-
Quantitative Research:
-
Research that focuses on numerical data and statistical analysis to draw conclusions.
-
-
Qualitative Research:
-
Research that delves into the motivations, attitudes, and behaviors of consumers using open-ended questions and observations.
-
-
Data Analysis:
-
The process of examining and interpreting collected data to draw insights and make informed decisions.
-
-
Market Segmentation:
-
Dividing a larger market into smaller, distinct groups based on shared characteristics or preferences.
-
-
Target Market:
-
The specific group of consumers that a product or service is intended to serve.
-
-
Consumer Behavior:
-
The study of how individuals make decisions about what to buy and consume.
-
-
Market Trends:
-
The general direction in which a market is moving, such as changes in consumer preferences or industry growth.
-
-
Competitor Analysis:
-
Evaluating the strengths and weaknesses of competing businesses to identify opportunities and threats.
-
-
SWOT Analysis:
-
An assessment of a company's strengths, weaknesses, opportunities, and threats.
-
-
Market Share:
-
The portion of a market that a company controls in comparison to its competitors.
-
-
Product Development:
-
The process of creating and improving products to meet consumer needs.
-
-
Product Launch:
-
Introducing a new product to the market.
-
-
Brand Awareness:
-
The extent to which consumers recognize and recall a brand.
-
-
Advertising Campaign:
-
A coordinated series of advertisements designed to promote a product or brand.
-
-
Focus Group:
-
A small group of individuals brought together to discuss and provide feedback on a product or service.
-
-
Survey Questionnaire:
-
A set of structured questions used to gather information from respondents.
-
-
Sampling Method:
-
The process of selecting a subset of individuals from a larger population for research purposes.
-
-
Data Collection:
-
The gathering of information through various research methods.
-
-
Data Interpretation:
-
Analyzing data to understand its implications and draw conclusions.
-
-
Market Analysis:
-
Studying and interpreting market data to understand current and potential market conditions.
-
-
Market Opportunities:
-
Favorable conditions or gaps in the market that can be exploited for business growth.
-
-
Market Challenges:
-
Obstacles or difficulties that businesses may face in a particular market.
-
-
Market Entry Strategies:
-
Plans and approaches for introducing a product or service to a new market.
-
-
Market Saturation:
-
A point in the market's lifecycle where demand for a product or service levels off due to widespread adoption.
-
-
Market Research Report:
-
A comprehensive document summarizing the findings and analysis of market research.
-
-
Marketing Plan:
-
A detailed roadmap outlining a company's marketing objectives and strategies.
-
-
Customer Satisfaction:
-
The extent to which customers are content with a product or service.
-
-
Brand Loyalty:
-
The degree to which customers are dedicated to a particular brand and consistently choose it over others.
-
-
Market Demand:
-
The total quantity of a product or service that customers are willing and able to buy at a given price.
-
-
Market Niche:
-
A specialized segment of the market that caters to specific customer needs.
-
-
Product Differentiation:
-
The process of making a product stand out from its competitors through unique features or branding.
-
-
Market Penetration:
-
The percentage of a target market that a company captures with its product or service.
-
-
Market Research Analyst:
-
A professional who conducts research and analyzes data to provide insights for business decisions.
-
-
Market Research Company:
-
A firm specializing in conducting market research on behalf of other companies.
-
-
Market Survey:
-
A systematic approach to collecting data from a specific target audience to understand their opinions and preferences.
-
-
Data Validity:
-
The extent to which research data accurately measures what it intends to measure.
-
-
Data Reliability:
-
The consistency and repeatability of research results.
-
Remember to practice using these words in context to reinforce your understanding and improve your language skills. Good luck with your IELTS preparation!
Comments: