Market research is a key process of collecting, analyzing, and interpreting information about the market, customers, and competitors. It is an essential tool for companies that want to make informed business decisions. Through research, companies can better understand their customers' needs and adapt their strategy to changing market conditions.
There are two main types of market research: primary and secondary. Primary research involves collecting data directly from respondents to gain specific insights into the situation. These italy phone number data methods include surveys, interviews, and focus groups. For example, by conducting online surveys, companies can quickly reach a broad audience and gain valuable data on consumer preferences.
Secondary research, on the other hand, is based on data already collected from other sources. This may include industry reports, academic publications or statistical data. Although it is often cheaper and quicker to use secondary research, it is important to remember that access to this information may be limited and not always up to date.
In the context of market research, it is also possible to distinguish between qualitative and quantitative research . Qualitative research focuses on understanding the causes of certain consumer behaviors. They use methods such as in-depth interviews or observations.
Definition and types of market research
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