Market Research

• 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 Akanbyi from Red Records. My research will tell me what type of age groups listen to what kinds of music.