Market Research Report : Bioinformatics research market in India 2012
Market research
Transcript of Market research
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.