Forms of Market Research

• What is primary market research?

  Research done by the firm for its own use
• How can a business tailor primary market research?

  By customizing it to their exact needs
• What are examples of primary market research methods?

  Questionnaires, surveys, and interviews
• How do firms often conduct primary market research?

  Without the customer thinking about it
• What is a key benefit of primary market research?

  It's tailored exactly to the business's needs
• What is a likert scale?

  A method to gauge customer opinions
• Where might a likert scale be used?

  At airports for service feedback
• What does secondary market research involve?

  Collecting information from other organizations
• When is secondary market research particularly useful?

  For information about an entire market
• What is a characteristic of secondary market research?

  It is often cheap
• What type of reports can be used in secondary market research?

  Government reports and independent research
• What is an example of a government report used in market research?

  Family expenditure surveys
• What types of sources can secondary market research include?

  Newspaper articles and research reports