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What is Market Research??? The systematic collection of information on existing or potential markets for analysis and subsequent action. It is an important component of business strategy.
Marketing Research = Market Research Consumer Research
Qualitative Research • Qualitative Research used to describe feelings. • It is best to generate hypotheses. • It is unstructured or semi-structured. • Usually a small number of non-representative cases.
Quantitative Research • Quantitative Research used to describe facts. • Statistical data are being usually in the form of tabulations. • Usually a large number of cases representing the population of interest. • Structured techniques such as online questionnaires, on-street or telephone interviews.
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