Disadvantages Of Market Research Essay

Market Research: Market research is the process of collecting valuable information to help find out if there’s a market that’s suitable for a certain product or service. The information gathered from market research helps budding entrepreneur make wise and profitable business decisions.

Primary research:

Primary research is an original research conducting by you (or the person you hire) to collect data specifically for your current objectives.

Observation:

Observation involves watching some type of behaviour. Observation method is a useful method to researchers in a variety of ways. They provide researchers to ways to grasp how participant with each other and check for non verbal expression.

Advantages:

- One way to observe them is through a recorder, now a days

A survey will typically involve a lot of questionnaire, and there’s several ways of conducting a survey:

- Face to face:

This method is one the best form because it allows 2 ways of communication between the researcher and the respondent. It’s very direct and the researcher can retrieve a more detailed and sensitive information from the respondent. The researcher can also note down their behaviour and facial expression into their data, whether they were hesitant or nervous.

- Postal:

The level of response to a postal questionnaire varies greatly, depending on its relevance to the reader and their interest into the topic. This method is easy to produce and leans more to the quantitative side. The data is usually reliable, because there’s a statistical pattern.

- Telephone.

This method is quite useful method for business surveys as the respondents are often busy people who are otherwise already occupied for discussion. Even though, it is trouble some and may seem intrusive, the data collected are are a lot more in a short amount of time compared to face-to-face method, so with this there’s a much higher response