Essay on A Research Study On Market Research
The definition of market research is the process of gathering information and analysing the information, about the product that is to be offered in the market. Market research also allows a company to discover who their target market is and what the customers think about the product or service that is to be offered before it is available to the public.
I will be advising Jennie on what market method that she should approach for her business. The two types of market research are primary and secondary. A primary research also knew as field research or face-to-face method, its information that did not exist before and it is valuable to a business in understanding their market. It is carried out to answer specific questions, it can involve questionnaires, surveys or interviews with individuals about a specific topic. The second type of a market research is secondary, which is also known as desk research as secondary research is information that already exists. Secondary research includes published reports on surveys from the Internet.
The advantages of doing the primary method are that Jennie gets to visit her business competition that allows her to now their prices of how much they are renting their clothes. Jennie also gets to know the brands that they have, so Jennie would know whether people rent out clothes for quality…