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Unit 10 - Describe the Different Types of Market Research - P1

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Task – Describe the different types of market research (P1)

In this assignment, I will be producing a report explaining and describing the different types of marketing research.

What is market research?
Market research is the process of collecting valuable information to help find out if there is a potential market for a new product or service.

Market research is carried out in all areas of marketing activities and the information collected concerns customers, markets, responses to existing and planned marketing campaigns and the general business environment. This means that the process needs to be continuous so that trends, opportunities and threats are identified.

There are two different types of market research, primary research and secondary research.

Primary research
Primary research consists of a collection of original primary data. There are advantages and disadvantages of primary research. There are various forms of primary research, which are:

Observations
Observations are a method of primary research where companies monitor customer behaviour. This can be in the form of a ‘mystery shopper’ in a store.

Experimentation
Experimentations are a method of primary research where an element of the marketing mix is changed. The results are then analysed.

Surveys
Face-to-face surveys; postal surveys; telephone surveys and email surveys are all different types of surveys used as methods of carrying out primary research.

A face-to-face survey is two-way communication between a researcher and a respondent, which could take place at home or in the street.

Postal surveys are sent questionnaires directed at a particular person.

Telephone surveys are similar to face-to-face surveys, but questions are asked on the phone rather than in person.

Lastly, email surveys are surveys delivered to an email address or a mobile phone.

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