What are the different types of market research?
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DIFFERENT TYPES OF MARKET
RESEARCH
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Market Research is the action or activity of gathering information about consumers’ needs and preferences. - Google
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It provides insights into your business, market and
competitors to help you make intelligent decisions.
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So what types are there?
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To GATHER Information:
Primary Research: gathers original information from outbound sources. - Questionnaires/Surveys - Interviews & Focus Groups - General Observations
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Secondary Research: gathers second hand information using tools available. - Internet - Articles - Libraries - Internal Information - Journals - Previous Research
To GATHER Information:
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Types of Information
Quantitative Research: collects all NUMERICAL data and employs the use of statistical models/formulas to analyse the data. - Questionnaires or Surveys - Financial Trends - Sales Figues
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Types of Information
Qualitative Research: gathers views & attitudes. - Behaviours - Interests - Views
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Market Research provides you with insight into your customers behaviours
and trends.
It means you can refine your marketing efforts and improve your overall service.