5.4 market research & analysis

Question 1

whats primary research
it includes:

Answer 1

direct research

• questionnaries
• surveys
• interviews
• focus groups

Question 2

secondary research
it includes:

Answer 2

research using documents
(sources of info that already exists)

• government reports
• NTO statistics

Question 3

whats qualitative methods

Answer 3

type of market research method,

e.g observation, informational convo, interviews

Question 4

whats quantitative methods

Answer 4

type of marekt research method. collects data in form of numbers.

e.g customer surveys.

Question 5

Reasons for market research

Answer 5

• Understanding position in the market
• Identifying customer needs and wants
• Competitor analysis
• Creating marketing plans