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.

Primary Research

Primary research is the gathering of data by interviews, telephone or even by post as a sort of questionnaire is sent out. A special research company provides this. Primary research can also be known as ‘field research’. 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.
When taking part in this sort of research it can be very expensive as to employ special researchers to do the work for you.

Secondary Research

Secondary research is also known as ‘desk research’. As you can tell by the ...