2.7 - Conduct Market Research
Learning Intentions
By the end of this section you should be able to do the following
1. Define the term market research
2. Explain the benefits of Market research
3. Describe the difference between field and desk research
4. Identify the advantages and disadvantage of field and desk research
Videos
Assessment - Learn
Market Research - This is the gathering, recording and analysis of information about a consumers opinion of a product or service. This will help the company make good decision and meet the needs of the consumer
Field Research - This research is also known as primary research. This is because you get the information yourself. It involves the business going into the marketplace and gather information from people.
Desk Research - This research is also known as secondary research. This is because the information is already gathered by someone else or another source. It involves the business looking at sales reports, newspapers articles, the internet and the Central Statistics office to gather their information.