Name _______________________
Conducting Market Research
Types of Market Research:
Exploratory Research: Used when you know little about a subject (focus groups, government
or industry publications, etc.)
Descriptive Research: Is done when you want to determine the status of something. (Age,
Gender, Occupation, Income, buying habits etc.). Usually done through questionnaires,
interviews, or observation.
Historical Research: Involves studying the past. Can help you predict future trends.
YOUR IDEA: _____________________________________________________
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1. Define the problem. What do you need to examine? What are the specific questions that
you are seeking answers for?
2. Select a research approach. Give a reason for the approach that you choose and the type of
information you will collect.
3. Gather information. How will you gather information? If you are using secondary
research, what sources are available to you? If you are conducting a survey, how will you
determine who will be asked to participate? What are the other considerations when you
begin to gather information?
4. Conduct primary research. Identify five questions that you think are critical in determining
the viability of this business. Explain why each question is important. What will the answers
tell you about your business?
Survey Question 1:
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Rationale:
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Survey Question 2:
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Rationale:
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Survey Question 3:
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Rationale:
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Survey Question 4:
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Rationale:
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Survey Question 5:
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Rationale:
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