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Question	Answer
Market Research	Is the process of gathering, analysing and presenting information relevant to marketing decisions
Primary Market Research	Original data that a company collects itself a.k.a. field research. examples of this are: -Questionnaires -Postal/Internet Surveys -Observation Consumer Panels Focus Groups
Secondary Market Research	Data that already exists a.k.a. desk research. examples of this are: -Government Statistics -Internet -Market Research sites -Media (www.bbc.co.uk)
Small Budget	When starting a business people do not have much money. people are sometimes reluctant to pay for market research as they think they know what people want but many businesses fail because they actually do not know what people want. if businesses have no money they should: -Do Secondary research (cheaper!) -Do a small amount of primary research, e.g. 20 questionnaires or talking to potential customers face-to-face to gather their opinions. BUT BOTH OF THESE COULD BE INACCURATE.

Resource summary

	Created by amelia wilson almost 11 years ago