Market Research
{ By Zainab Ahmed
Product Oriented:
It is one whose main focus of activity is on the
product itself.
Market oriented:
It is one which carries out market
research to find out consumer wants
before a product
is developed and produced.
Marketing budget:
Is a financial plan for the marketing of a product or
product range for some specified period of time.
It specifies how much money is available to market
the product or range, so that the marketing
department know how much they may spend.
Why it is important to carry out
market research?
1. To identify consumer needs
2. What to produce
3. How much to charge for the product
4. Which market to target
5. What is the competition like.
6. What type of promotion to use.
Types of Information:
Quantitative information is that focuses
on the quantity that can also be
expressed in statistical graph form.
Qualitative information is the
information that focuses on the opinions
or judgement and reasoning.
Types of Research:
1. Primary research
- is the collection of information directly also known
as first hand research.
- It can be collected through questionnaires,
interviews, focus groups, observation.
2. Secondary research
- Also known as second hand research and desk
research as the data is already available.
-For example official records.
The process of primary research
1. Purpose of research/hypothesis
2. Method of research
3. Size of the sample
4. Pilot study
5. Carry out complete research
6. Collect data and analyse the results
7. Produce a report of the findings
Methods of Primary Research;
-Questionnaires: are printed list of questions to be
answered as a mean of collecting data
for market research.
-Interviews: It is when the interviewer ask the
questions to the interviewee and conduct the research.
-Focus Groups: Is when a group of people who are
representative of the target market
-Observation: This can be done through recording,
watching and audits.