Market Research

• Primary market research is research that has been conducted for the first time and for a specific purpose.
• Quantitative data are answers to questions about quantity.
• Qualitative data are answers to questions about quality or opinions.
• Secondary market research uses information from other sources, such as reports by government agencies, trade associations, consultants, competitors, suppliers, customers, etc.
• Internal secondary sources are the sources of information that are produced by the business, but not for the purpose of market research.
• External Secondary Sources are the sources of information that are produced outside the organization