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The first 200 words of this essay...
What Is Market Research?
Market research means systematically gathering, recording and analyzing data about the market for goods and services.
To find out what the customer wants, a wide variety of market research techniques are used. These involve asking various questions like: -
* What is the target market?
* Where are they?
* What do they want?
* When do they want it?
* Can we satisfy them?
* How can we improve it for them?
Methods Of Market Research?
A firm can employ either its own marketing department or get an outside specialist organisation. There are two main types of market research:
* Desk Research. This involves using existing sources of information to research the market. This can also be called secondary research.
* Field Research. This is the process of gathering new information about the market by going into the 'field' (like house-to-house etc.) This can be called primary research.
For my business I will be mainly using field research by handing out questionnaires around my school and collecting the results and by interviewing DJ Chrissy-P from Scream Records and Marcus
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