AS Business: Market research

Market Research is the systematic gathering, recording and analysis of data in order to better
understand the behavior of consumers.

PURPOSE:
Market trends, Forecasting, planning, evaluation of strategies/promotion, assessing market mix, identifying market segments, identifying
consumer needs, identifying competition & identifying gaps in the market.

PRIMARY RESEARCH
This is new…

Company accounts Government and EU
statistics
Stock analysis Trade publications
Retail data Household expenditure
surveys




SAMPLING involves selecting people to interview. Probability samples
Simple random sampling and systematic random sampling.
Stratified- divide the sample into market segments
Cluster sampling ­ split whole market into small areas to find differentiation.

Non-Probability…