Marketing- Topic 5

 Market research 

Finds information about :

Customer feedback, promotional methods, competitors,sales data.

How does market research help a business?

- Find opportunities in the market- potential customers leading to more sales.

-Decide whether past promotions or advertsing have succeeded- help reduce risk.

-Better understanding of market to stay ahead of competition.

What are the stages of market research?

-Collecting information: primary or secondary

-Presenting information

- Analysing to ~ find gaps in the market, look at past decisions.

Primary research:  Uses data first hand :Field research 

Face to face Interview : 

Advantages: Misunderstandings cleared up ,researcher will encourage to answer.

Disadvantages: Expensive to carry out, researchers have to be trained.

Telephone interview:

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