DIFFERENT TYPES OF MARKET

RESEARCH

Market Research is the action or activity of gathering information about consumers’ needs and preferences. - Google

It provides insights into your business, market and

competitors to help you make intelligent decisions.

So what types are there?

To GATHER Information:

Primary Research: gathers original information from outbound sources. - Questionnaires/Surveys - Interviews & Focus Groups - General Observations

Secondary Research: gathers second hand information using tools available. - Internet - Articles - Libraries - Internal Information - Journals - Previous Research

To GATHER Information:

Types of Information

Quantitative Research: collects all NUMERICAL data and employs the use of statistical models/formulas to analyse the data. - Questionnaires or Surveys - Financial Trends - Sales Figues

Types of Information

Qualitative Research: gathers views & attitudes. - Behaviours - Interests - Views

Market Research provides you with insight into your customers behaviours

and trends.

It means you can refine your marketing efforts and improve your overall service.

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