- Created by: Kimkardi
- Created on: 24-09-19 19:19
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
- 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.