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Market Research (Accuracy of Market Research Data (How carefully the…

- - - - Advantages
        
        Detailed qualitative information can be gathered about the product/service
        
        Customers' opinions about the product or service can be obtained
        
        They can be carried out online, which makes it cheaper and easier to collate/present the results
        
        They can be linked to prize draws and prize draw websites to encourage people to fill in the questionnaire
      - Disadvantages
        
        Carrying out questionnaires can take a lot of time and money
        
        Collating and analysing the results is time consuming
        
        If questions are not well through out, the answers to them will not be very accurate. It may be very misleading for the business if it is thought that a product is liked by consumers, when in fact the respondents were only saying that they thought the product was quite attractive but they would not actually buy it
    - - Advantages
        
        The interviewer is able to explain any questions that the interviewee does not understand
        
        Detailed information about what the interviewees like and dislike about the product can be gathered
      - Disadvantages
        
        Whether consciously or unconsciously, the interviewer could lead the interviewee into answering in a certain way, resulting in accurate results due to interviewr bias
        
        Interviews are very time consuming to carry out and, therefore, they are often an expensive way of gathering information
    - - Advantages
        
        They can provide detailed information about consumers' opinions
      - Disadvantages
        
        They can be time consuming, expensive and biased if some people in the panel are influenced by the opinions of others
    - - Advantages
        
        It is quite an inexpensive way of gathering data
      - Disadvantages
        
        The information only gives basic figures. It does not provide the business with reasons for consumer decisions
      - Forms
        
        Recording
        
        Meters can be fitted to monitor which television channels are being watched
        
        Watching
        
        Includes such activities as counting how many different types of vehicles pass particular billboards or posters, counting how many different types of people go into a particular shop and also come out having bought something
        
        Audits
        
        The counting of stock in shops to see which products have sold well