Business: Section 2 (Market Research)

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  • Market Research
    • It costs money.
    • Two main types
      • Desk Research
        • Secondary Researched or public research.
        • Wide range of data - Not just sample groups.
        • Analyse past trends and the whole market.
        • Market research reports , government publications and newpapers , magazines etc.
        • Cheaper , easily found and instantly available
        • Out of date , not specifically about your product and not always relevant.
      • Field Research
        • Primary research , questionnaires , surveys , feedback and focus groups.
        • Expensive so small businesses use smaller sample groups
        • Can save money by using phone or internet
        • May use focus groups
        • Up to date , relevant and specific. However is time consuming and expensive

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