Market

Research

The systematic collection of information on

existing or potential markets for analysis and

subsequent action. It is an important

component of business strategy.

What is Market Research???

Marketing Research =

Market

Research

Consumer

Research

Why do we need market research???

For better decision-making

Deliver best to your customer

Maximise profit

Minimise risk

Where to

start???

Objective• What do you need to know?

Method• How best you will get the result.

Sample• From who?

Analysis• What will you do with the information.

Resources• Budget.

Points to be consider

Types of Research

Qualitative Research

Qualitative Research used to describe feelings.

It is best to generate hypotheses.

It is unstructured or semi-structured.Usually a small number of non-representative cases.

Quantitative Research

Quantitative Research used to describe facts.

Statistical data are being usually in the form of tabulations.

Usually a large number of cases representing the population

of interest.

Structured techniques such as online questionnaires, on-

street or telephone interviews.

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