Market Research
- Created by: Rita Ora
- Created on: 14-11-17 11:36
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- Primary
- Market Research
- Qualitative Market Research
- Collection of information about the market based on subjective factors such as opinions and reasons.
- Quantitative Market Research
- Collection of information about the market based on numbers.
- Market Mapping
- Benefits
- helps identify a firms closest rivals in order to plan competitive strategies
- helps to identify gaps that a firm can fill
- can help a firm understand the public's perception of an organisation as a business or brand
- Drawbacks
- expensive to gather this type of info as it requires skilled personnel to interpret
- Difficult to tabulate the data and compare it with other data as opinions are often unstructured.
- Benefits
- Secondary
- information that has already been collected for a different purpose
- Qualitative Market Research
- actually comes second.
- types:
- experiment
- observation
- experiment
- Market Research
- surveys
- focus groups
- test marketing
- observation
- personal interviews
- postal surveys
- telephone interviews
- internet surveys
- telephone interviews
- postal surveys
- focus groups
- Secondary
- information that has already been collected for a different purpose
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