• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Market Research

Extracts from this document...

Introduction

Market Research Market Research is the collection of information from consumers or people that are thinking of becoming consumers. This is where people (consumers) find out if they are interested in buying any of the business' products. Some businesses spend a lot of money just to find out about their market. This is good because it helps the business into finding out what the customers need to buy and also sometimes it gives you information about competitors. ...read more.

Middle

In simple terms it is the collection of information by contacting the public who may become consumers eventually. Advantages of Primary research; * The business can be sure that the information gathered is up to date. * The business can design the research in the best way that they see possible. Disadvantages of primary research; * Often when gathering information the analysis of it all can be slow and antagonising. ...read more.

Conclusion

This information comes from a lot of places for example government publications and trade journals. Advantage of Secondary/Desk Research; * The information is available immediately. * The information is quite cheap to obtain. * The data available covers a wide range of sources. * The information will have been very well researched. Disadvantages of Secondary/Desk Research; * It is unlikely that the data collected is exactly what the business is looking for * There's a chance the information collected might be out of date. * The information is available for every other business in the market. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. "Customer Research"

    This chart demonstrates the results for question 7. The highest score was "Comfortable seats, furniture". This means that the business should spend more capital on furnishings than any other option, as it represents what people like the best, and would result in a more pleasant entity for customers, hopefully catching the preferences of more customers.

  2. Market Research

    and 'Yes, but it does not...' Quantitative information (also known as quantitative research) is based upon hard facts and it is aid to be objectives. Quantitative research provides numeric data of a particular topic being investigated by an organisation. For example, Cadbury Schweppes may want to know how many people are buying Cadbury Time Out Original and at what price.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work