MARKET RESEARCH

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  • MARKET RESEARCH
    • Market Research Industry
      • Large
      • Well-Structured
      • Has extensive codes & guidelines
      • Main industry body
      • Quality accreditation standards & procedures.
    • What Market Research Does
      • One of the most important tools in marketing
      • Helps to understand buyer behaviour.
      • Lowers risk of making an incorrect marketing decision.
      • Provides an understanding of how customers view products & services.
    • Research Brief
      • A critical document
      • Produced by the ordering company.
      • Sets out what the research objectives are & the resources the company has for the project
    • Research Report
      • Secondary data & knowing how data behaves are essential elements.
    • Sampling
      • Uses a small number of individuals as a basis for drawing conclusions about a whole population.
      • Needs to be representative of population that conclusions are to be made about.
    • Research Results
      • Should be clearly and simply communicated

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