Theory on Market Research For Lesson 2 Market

Market Research Is finding out what your customers want from a businesses new product

Types of Market Research There are two types of Market Research: Primary Research Secondary

Also known as Field Research Information that is newly created and has a

Also known as Desk Research Secondary Research Uses data that has already been

Types of data from research Qualitative Data Quantitative Data Based on peoples opinions Can

Watch this video: Video http: //www. bbc. co. uk/learningzone/clips/a-short-introduction-tomarket-research/10957. html

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Theory on Market Research For Lesson 2

Market Research Is finding out what your customers want from a businesses new product or service. They do this to make sure that they are successful and do not fail.

Types of Market Research There are two types of Market Research: Primary Research Secondary Research

Also known as Field Research Information that is newly created and has a specific purpose Primary Research Collecting the research first hand: Questionnaires Surveys Focus Groups Interview Panels

Also known as Desk Research Secondary Research Uses data that has already been collected Books Internet Journals Government statistics

Types of data from research Qualitative Data Quantitative Data Based on peoples opinions Can be analysed statistically Difficult for interviewer to record Saves time and money Takes longer and interviewee may not want to spend time giving detailed answers Interviewee happier asking shorter questions or just ticking a box

Watch this video: Video http: //www. bbc. co. uk/learningzone/clips/a-short-introduction-tomarket-research/10957. html

Take the logo quiz http: //www. businessstudiesonline. co. uk/Gcse. Business/Activities/Module 3/What. Is. Marketing/Primary. Research. Drag. Drop/frame. htm