What is Market Research?
There is no specific definition and it can be broadly defined depending on its use but for a business it can be defined as,
Gathering information about their target market and customers to create products and services that best suits their needs and wants’
Primary and Secondary Research
Primary Research – the act of gathering first hand data
Examples: Observations, experiments, surveys, e-marketing, focus groups, panels, field’s trials and piloting.
Secondary Research – this is the act of gathering existing data.
Examples: internal sources e.g.: sales figures, external sources e.g.: governments details, company reports, internet, journals.
What are the advantages and disadvantages of primary and secondary research?
Collecting Data
Quantitative and Qualitative Data
What is the difference between these?
Quantitative research produces numbers. These provide a measurable record or a series of values which can be analysed.
Qualitative Data involved collective views and opinions which may be written or spoken.
Triangulation
This involves researching the same issue using several different methods.
Case Study
Julia Jones has developed a new type of toothbrush to encourage children to clean their teeth. When toothpaste and water are places on the toothbrush, it plays a musical tune.
1. Whom would you carry out research on to find out whether this idea could be a success?
I would carry out research on advertising this in shopping centres and shops like
