28 AUGUST 2019
Market research is the process of gathering relevant information to the market and analyzing that information to make a business decision. The following information is collected in the market research.
Why we do Market Research
Market Research Types
For market research, two techniques are used. Those are Primary methods and secondary method.
In the primary market research method, some data are used. Those are surveys, interview, questionnaire, observation, experiments, and schedules, etc.
In the secondary market research method, some data are used. Those are government publications, public records, internal records, historical documents, biographies, etc.
Market Research Process
Following steps are followed to conduct market research
Identification and Definition of Research Problem
Conducting Situational Analysis and Informal Investigation
After identifying the research problem you have to do situational analysis and information investigation. For situational analysis, you have to collect the following information.
For the informal investigation, you have to investigate the following people
Based on this investigation process you can determine whether the detailed study is feasible or not.
Planning and Conducting Formal Investigation
Analyzing and Interpreting Data
To make recommendations and conclusion you can use statistical techniques
Summarizing the Findings and Preparing A Research Report
Finally, you have to prepare a written report. Based on this report you can make an effective decision.
This is the process of market research. Furthermore, details you can research our market research team. Feel free to call us on (+91) 98412 41981, 86100 59151. Please email us on email@example.com
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