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market research - Coggle Diagram
market research
methods of market reasearch
face to face interviews
surveys
observations
focus groups
primary/secondary
primary is done by colleting data
secondary is done by using existing data
quantitative/qualitive
qualitative is understanding peoples beliefs and point of views about situations.
qualitative is using mathematical analysis and data to use statistics for your business
pros and cons
cons
informed decisions
competitive
time consuming
expensive
pros
provide detailed information
specific to the business
can include quantitive and qualitive
reevent and up to date
validity
the facts and evidence
make sure the data is reliable
reliability
must have a high level of validilty
weather it can reach the same result multiple times in a buiseness