Researching Demand

Basically if you need any help on: 

- Market Research 
- Primary Research
- Secondary Research
- Quantitative Research
- Qualitative Research 

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Market Research

Market research involves

 - Collecting information
 - Recording information

These two points will help a business understand its market. 

Market research sets out to answer questions like these:

  • Who makes up the target audience?
  • What do the customers want? 
  • When do they need it? 
  • Where does the product sell best? 
  • How is our market changing? 

 

 

 

 

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Primary Research

Collecting your own data, or make others collect the data for you. 

For example: 

  • Observations
  • Postal surveys
  • Face to face (Questionnaires)
  • Focus groups

 

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Secondary Research

Also known as: desk research. 

Much of the information can be looked up. 

  • Internet searches (Google)
  • Government departments
  • Trade associations
  • Trade press and magasins
  • Competitor websites
  • Market research reports (Mintel)
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Quantitative research

Can be used to gather a lot of information, but which often uses fairly closed responses. 

This can be related to questionnaires. 

Questions such as: 

  • How many? 
  • How often? 
  • Who?
  • When?
  • Where?

 

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Qualitative research

Intensive methods involving small samples.

For example, a focus group discussing their feelings about a particular product. 

Questions like

  • Who?
  • What?
  • When?
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