1.2.2 market research

• quantitative data= numerical data, e.g. sliding scale (easier to analyse)

  qualitative data= in depth data e.g. focus groups (more information)
• primary research 


  new research collected first hand by the business e.g. interviews, observations
• secondary research 


  research that already exists as it has been collected by someone else e.g. research reports, internet
• primary (benefits & drawbacks)

  B. info is up to date and specific

  D. time consumin/expensive
• secondary (benefits & drawbacks)

  B. instantly availabl, not time consuming

  D. accuracy of data is unknown