Market Research comes in two forms: Primary or Secondary Research.
Primary Research is when you find out the infomation yourself, such as conducting a questionnaire or survey.
Secondary Research is when you use infomation that already exists, such as statistics from existing websites or infomation from books.
Primary Research is seen as being more accurate and up-to-date, as well as being specific to your needs. This means that when you collect your data, it answers all of your questions rather than being vague. It is an effective way of collecting qualitative data and gives you valuable customer contact, so you can find out their specific needs. However, this is generally more expensive and time-consuming.
Secondary Research is much more general, but is less time-consuming and is an effective way of collecting quantitative data.Addtionally, this would be much less expensive.
Quantitative Data - This is numerical data (A.K.A. Numbers, Statistics, Facts)
Qualitative Data - This is opinions, judgements and attitudes.
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