Market Research Market Research – What is it? Gathering information on (for example)… …finding new markets …evaluating public opinion …gaining insight.

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Presentation transcript:

Market Research

Market Research – What is it? Gathering information on (for example)… …finding new markets …evaluating public opinion …gaining insight into customers’ decisions

1.PRIMARY RESEARCH Research carried out in the field directly by the surveyor. Methods include… … questionnaires and focus groups. Types of market research (1.)

2. SECONDARY RESEARCH Collating research data that has already been published. Sources include… … Statistics NZ and government reports. Types of market research (2.)

Questions: Closed vs Open Closed questions have yes/no answers and are collated for graphs and statistics… This is quantitative research Open questions ask for opinions… This is qualitative research

A survey is only as good as its questions and the people it targets. The questions and those who are asked them need to be relevant to the company’s market and aims. Asking the right people the right questions

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