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Market Research - Coggle Diagram
Market Research
Research Design
Types of Market Research
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Descriptive: Describes market characteristics (behavior, habits, etc.).
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Study Planning
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Defines objectives, schedule, resources, and methodology.
Information Sources
Primary: Original data collected directly (surveys, interviews)
Secondary: Existing data (books, reports, databases).
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Sampling
Sampling Procedure
Steps to choose an appropriate sample, including defining the population and selection method
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Measurement
Types of Variables
Qualitative: Non-numerical (e.g., gender, color, brand).
Quantitative: Numerical (e.g., age, income, quantity purchased).
Measurement Scales
Nominal: Categorical without order (e.g., gender).
Ordinal: Categorical with order (e.g., socioeconomic level).
Interval: Numerical without an absolute zero (e.g., temperature)
Ratio: Numerical with an absolute zero (e.g., income).
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Data Evaluation
Review and preparation of collected data for analysis (cleaning, coding).
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Market research is the systematic process of collecting, analyzing, and interpreting data related to a market, in order to make strategic decisions