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Market Research

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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.


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.


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the data collected is exactly what the business is looking for * There's a chance the information collected might be out of date.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.

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