Business AS Level

3.3.2 Understanding markets and customers

The value of primary and secondary marketing research:

Market research is very important as the leading factor of unsuccessful business' is failure to understand the market. Market mapping can also be used to help identify an area of the market that has not yet been satisfied.

• Primary- research conducted first hand to target the specific problem (field)
• Secondary- data taken from research that has already been conducted (desk)  
• Qualitative- data that is non-numerical, can provide detail
• …