Give one advantage of qualitative data.

Qualitative data explains why customers think or behave as they do. Detailed reasons can inspire product improvements.

Give one disadvantage of qualitative data.

Qualitative data is hard to summarise or compare because answers vary. Qualitative data usually comes from small groups, so it may not represent the whole market.

Give one advantage and one disadvantage of quantitative data.

Quantitative data is easy to analyse and turn into charts and percentages. Quantitative data does not explain the reasons behind customer choices.

Give an example of a closed question and the type of data it produces.

A question asking how many coffees someone buys each week gives quantitative data. The answers can be counted and averaged.

Edexcel GCSE Business 1BS0

Enterprise and Entrepreneurship

Topic overview The dynamic nature of business Risk and reward The role of business enterprise

Spotting a Business Opportunity

Topic overview Customer needs Purpose and methods of market research Market research data and its reliability Market segmentation The competitive environment

Putting a Business Idea Into Practice

Topic overview Business aims and objectives Business revenues, costs and profits Cash and cash flow Sources of business finance

Making the Business Effective

Topic overview Business ownership and limited liability Franchising as a start-up option Business location The marketing mix Business plans

Understanding External Influences on Business

Topic overview Business stakeholders Technology and business Legislation and business The economy and business Responding to external influences

Growing the Business

Topic overview Organic and inorganic business growth Public limited companies and finance for growth Changes in business aims and objectives Business and globalisation Ethics, the environment and business

Making Marketing Decisions

Topic overview Product design, life cycle and differentiation Price and pricing strategies Promotion strategies and technology Place and methods of distribution Using the marketing mix to make business decisions

Making Operational Decisions

Topic overview Business operations and production processes Working with suppliers Managing quality The sales process

Making Financial Decisions

Topic overview Profit, profit margins and ARR Understanding business performance

Making Human Resource Decisions

Topic overview Organisational structures and communication Different ways of working Effective recruitment Effective training and development Motivation in the workplace

Spotting a Business Opportunity

Market research data and its reliability

3 things to know
Paper 1

Overview

Qualitative and quantitative data and their strengths and weaknesses, survey percentages, social media as a research tool, and why samples, bias and leading questions make data unreliable.

What you need to know

Answer each one before you reveal it.

Your recallNot started

Key term

Give three reasons why market research data might be unreliable.

Key term

What is qualitative data?

Key term

What is quantitative data?

Questions from this subtopic

Each one with the model answer underneath.

1
What is qualitative data?
Model answer
Qualitative data is information about opinions, feelings and reasons that cannot easily be measured. Focus groups and open questions produce qualitative data.
2
What is quantitative data?
Model answer
Quantitative data is numerical information that can be counted and analysed statistically. Closed questions and sales figures produce quantitative data.
3
Give one advantage of qualitative data.
Model answer
Qualitative data explains why customers think or behave as they do. Detailed reasons can inspire product improvements.
4
Give one disadvantage of qualitative data.
Model answer
Qualitative data is hard to summarise or compare because answers vary. Qualitative data usually comes from small groups, so it may not represent the whole market.
5
Give one advantage and one disadvantage of quantitative data.
Model answer
Quantitative data is easy to analyse and turn into charts and percentages. Quantitative data does not explain the reasons behind customer choices.
6
Give an example of a closed question and the type of data it produces.
Model answer
A question asking how many coffees someone buys each week gives quantitative data. The answers can be counted and averaged.

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Spotting a Business Opportunity

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