Describe Types of Market Research. (P1)

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Introduction: a lot of business uses market research, to collect information to help them provided a suitable and a sustainable marketing product or service. To attract customers interest in order to make their business more success able.

Primary research: this is information which is collected from scratch, as company gather primary research based on their research feedback. They get from the date which company team members produces, this is a primary effort because new fresh data which has been collected is done first handed. All members within the company are involved, in collecting primary by participating their ideas and opinions on question which the company select before handing out the data to consumers targeted.

Collecting original data is also known as field research by using different research method such as questionnaire, surveys, observation, postal telephones and e-mailing, as Primary research is collected for a particular purpose such as finding out how “many people in barking and Dagenham area are in employment”.

Also this helps to classify clearly which service or product will interest a particular age range. Therefore this helps big companies to predict and identify whether the product or a service will be successful or not. Using these research methods many companies are able to use different types of date research collect primary researches.

Benefit of primary research: the research data is up to date and organisation collects this information for a particular purpose. This is confidential information between the researcher and the consumers.

Consumer’s panels: this is a survey that is carried out over a long duration period of time with the same group. Example is working with consumer panel. It is likely to measure their changing purchasing pattern over time. Consumer panel supply information about items that consumer has brought. Also item which are more popular and less popular in a certain season.

Observation: some...
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