Gathering market research data from social media

• What is the purpose of market research?

  To collect information about the market or what customers want to help a business be more successful.
• How can market research be conducted?

  It can be done by the company itself or taken from elsewhere.
• What are the two main types of market research methods?

  Primary research and secondary research.
• What is qualitative data in market research?

  Data that describes qualities or characteristics, often collected through interviews or open-ended questions.
• What is quantitative data in market research?

  Data that can be measured and expressed numerically, often collected through surveys or experiments.
• What is social media in the context of market research?

  Interactive computer-based technology that allows users to create and share information through virtual communities and networks.
• What are some benefits of using social media for market research?

  It is cheaper, saves time, and allows businesses to spot trends and monitor competition.
• How can a business use social media to gather market research data?

  By conducting online questionnaires or surveys to collect customer feedback.
• What is an example of using social media for market research?

  A hairdresser asking followers to complete a questionnaire in exchange for a chance to win a free haircut.
• What is a target market?

  A group of customers which a business aims its products or services at.
• Why is social media important for understanding customer tastes and trends?

  It allows businesses to quickly find out how tastes and trends are changing and what competitors are doing.
• How does market research help businesses make better decisions?

  By reducing risk and providing valuable insights into customer preferences and market trends.
• What is the role of market reports in market research?

  They provide collected data and insights about the market.
• How does social media allow businesses to conduct research cheaply?

  By providing free or low-cost access to a large audience for feedback and data collection.
• What might a business do with the information gathered from social media market research?

  They could develop a new product or offer discounts to compete with others.
• What challenges might businesses face without social media in market research?

  It would be more difficult to find out how tastes and trends are changing and what competitors are doing.
• What are the methods of market research?


  • Primary research
  • Secondary research
• What are the benefits of using social media for market research?

  • Cheaper than traditional methods
  • Saves time in data collection
  • Helps spot trends and monitor competition
• What is the process of gathering market research data from social media?

  1. Use social media platforms to reach customers
  2. Conduct surveys or questionnaires
  3. Analyze the feedback for insights