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What is Market Research
Market research is the process of collecting and analysing information about the target market to establish trends.
Target market
the group of people to whom a business aims to sell its products or services.
Uses of Market Research
Any 3
Importance of Market Research
Any 3
Types of Market Research
Field and desk
Field Research
Field research involves going out into the market place to gather information by observing and talking to people This is a form of primary research
Desk Research
Desk research involves analysing information that has already been gathered. This is a form of secondary research
Survey
A survey is a process for gathering and examining data from a sample of people. A sample is a smaller, manageable version of a larger group.
Questionnaire
A questionaire is a list of questions developed to extract certain information from the respondent. It can be conducted by post, telephone, or online.
Interview
An interview is a conversation where questions are asked and answers are given straight away.
Observation
Observation involves watching or viewing consumers in action. For example, a mystery shopper would observe people in a shop, then report on the observations
Focus groups
A Focus Group is a group of consumers brought together to discuss a particular product or service.
Advantages and disadvantages of field research
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Desk Research
Any 1
