Market Research
This tool allows companies to discover the target market and get feedback about their product / service.
As seen in class, there are THREE TYPES on how companies gather important information. 1. Internal Data, 2. Market Intelligence and 3. Market Research
As Secondary Data we have, information that someonelse gathered, there are: 1. Databases and Reports, 2. Movies, 3. Newspapers and Magazines, 4. Audio and Video Files and 5. Other Researches.
But, what really matters in Market Research is Primary Data, and we find: 1. Surveys 2. Polls 3. Interviews 4. Focus Groups 5. Product Tryouts. The outcomes help the companies to find out what are some opportunity areas and what’s the perspective of the product/service; very valuable information.
And, in the whole process, the two main questions are: - What do we need to know? - How will we use the information we gather?
