Purpose Of Market Research

Question 1

Why conduct market research?

Answer 1

Understand customers, competition, market environment, what customers are willing to pay, and gather info about the sector.

Question 2

What’s the difference between quantative data and qualative data?

Answer 2

Quantative is numerical data and qualative is qualities and characteristics.

Question 3

What’s examples of market research?

Answer 3

Question aires, surveys, interviews, focus groups.

Question 4

What’s advantages and disadvantages of market research?

Answer 4

+better understanding
+informed decision making
+risk reduction
-costly
-time consuming
-potential bias
-changing market.