Jaydip Pravinkumar Unit 10 P1
Unit 10 – Market Research P1 – Describe types of market research
Market research is a process of collecting the information about a new product or a service
that the business would like to launch and this is when the market research takes places and
this is when the businesses directly collects information from their consumers. This will
allow the business to discover their target market, and record opinions and other input from
customers regarding the interest in the product. The purpose of market research is to
examine the market associated with a particular good or service to determine how the
audience will receive it.
Primary research – involves gathering data for the first time in order to meet
the specific needs of the business process
1. Observation – this is a research technique that is that finds out the customers buying
behaviour by simply looking at them ranging from different ages and gender. This is
a cost effective method of collecting data and this involves simply watching and
recording what happens. For example, counting the number of the people entering
the supermarket or which department are there more customers.
2. Focus groups – a focus group consists of small group of people which are typically
between 6 and 10. Who are bought together to talk about their attitude towards a
particular for example a focus group may be brought together to talk about a
product that a business want to launch but don’t if they would like it or not. The
group are chosen on the basis of the customers and represent an average customer.
3. Experimentation – an experimentation is when the business experiment something
to see what will happen if the certain action is taken for e.g. one of the most
common tactics is change the prices to check if the customers are buying or not.
Experimentation might also mean that the loss of the customers for example if the
customers can find the same product at low price from elsewhere they will buy it
from there and no matter if the price of the product by the business is changed
again.
4. Panels – panels are the long period survey with the same customers to review their
buying patterns overtime and find out what gone popular and find out their
responses. The main aim of the method of research is to identify any changes that
might take place, including changing the pattern of consumer expenditure. For
example, the kind of the television programme that are viewed so they can advertise
on the channel.
5. Surveys (face to face, postal, email, telephone) – surveys are used to gather primary
data, wither quantitative or qualitative, from a large numbers of people, known as
Unit 10 – Market Research P1 – Describe types of market research
Market research is a process of collecting the information about a new product or a service
that the business would like to launch and this is when the market research takes places and
this is when the businesses directly collects information from their consumers. This will
allow the business to discover their target market, and record opinions and other input from
customers regarding the interest in the product. The purpose of market research is to
examine the market associated with a particular good or service to determine how the
audience will receive it.
Primary research – involves gathering data for the first time in order to meet
the specific needs of the business process
1. Observation – this is a research technique that is that finds out the customers buying
behaviour by simply looking at them ranging from different ages and gender. This is
a cost effective method of collecting data and this involves simply watching and
recording what happens. For example, counting the number of the people entering
the supermarket or which department are there more customers.
2. Focus groups – a focus group consists of small group of people which are typically
between 6 and 10. Who are bought together to talk about their attitude towards a
particular for example a focus group may be brought together to talk about a
product that a business want to launch but don’t if they would like it or not. The
group are chosen on the basis of the customers and represent an average customer.
3. Experimentation – an experimentation is when the business experiment something
to see what will happen if the certain action is taken for e.g. one of the most
common tactics is change the prices to check if the customers are buying or not.
Experimentation might also mean that the loss of the customers for example if the
customers can find the same product at low price from elsewhere they will buy it
from there and no matter if the price of the product by the business is changed
again.
4. Panels – panels are the long period survey with the same customers to review their
buying patterns overtime and find out what gone popular and find out their
responses. The main aim of the method of research is to identify any changes that
might take place, including changing the pattern of consumer expenditure. For
example, the kind of the television programme that are viewed so they can advertise
on the channel.
5. Surveys (face to face, postal, email, telephone) – surveys are used to gather primary
data, wither quantitative or qualitative, from a large numbers of people, known as
