Market research is used to find out what people want, who is going to buy your product and if people think it’s a good idea. Market research will help you set up your business and know what is popular in the market.
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What is desk reseach?
Desk research is is when a business finds pre-existing information collected by other companies
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What is feild reseach?
Field research is when a business goes out to collect their own information
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3 advantages of desk research?
You are able to get a verbal and well explained answer that people may not have known how to write down,You can get information that other businesses wont have and You can get peoples honest opinions
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3 advantages of feild research?
It doesn't cost anything, its easy and You don’t need to go out and get the information yourself. You can also get statistics
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Why do businesses need to carry out market research?
Businesses carry out market research to be sure that there product will sell and the business will make profit.
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What information might a business want to find out from its market research
Target market, the amount of money people are willing to pay and where people go to buy/consume the product
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Other cards in this set
Card 2
Front
What is desk reseach?
Back
Desk research is is when a business finds pre-existing information collected by other companies
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