Market Research

Market research is a way for companies to get

to know their customersthe process of systematically

collecting, recording, analyzing, and presenting data related to marketing goods and services

Steps in the research process1. Identify the problem.

2. Conduct secondary research.

3. Select and design primary research.

a) Observation method

4. Collect data.

a) Census

b) Sample

c) Data mining

5. Report and analyze.

a) Qualitative-research data

b) Quantitative-research data

Types of Research secondary research published data

that have been collected for some other purpose

primary research original research conducted for a specific marketing situation (qualitative vs. quantitative)

observation method research technique that involves watching actual behavior and recording it

Types of ResearchQualitative

used to measure people’s reactions, responses, or feelings toward a given subject or problem

Quantitative collecting data by surveying a

representative sample of a target-market population

Types of Datacensus a study that counts

everyone in the research population

sample a number of people who are representative of a study’s population