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market research - Coggle Diagram
market research
methods
focus groups
observations
interviews
questionaires
secondary
data collected by someone else/another company
cons
not always specific to what you want
pros
pre-collected and saves time
primary
data which collected first-hand/by youself
cons
takes up time
pros
specific to what you want
quantitive
gathering data you can measure and generalizing it across groups of people
pros
shows facts and ratios of sales
cons
only based off numbers and data, not opinions
qualitive
subjective opinions that can't be measured
pros
how people enjoy a product/service and what would encourage them to buy more
cons
cannot see how many sales are actually made from products