Marketing · Both
Market Research Methods
Market research reduces risk by finding out what customers want and what competitors offer.
Primary vs secondary
Primary: collected first-hand (surveys, interviews, observation, focus groups).
Secondary: existing data (ONS, company reports, internet, trade magazines).
Quality of research
Sample size and representativeness matter.
Leading questions create bias. Cost and time limit methods.
Worked example
One advantage of secondary research?
Solution: Usually cheaper and quicker than collecting new primary data.
Practice questions
1. Give two primary research methods.
2. What is bias in research?