In conclusion, the purpose of market research is get important information about market need, market size and competition to get a successful product. 2. Explain the difference between primary research and secondary research. First of all I have to say that this two types of researches are very important when a company want to do a market research. If the company want to do a well-done market research, it has to do primary and secondary researches.
The difference between this types of research is that the primary research consist on get information directly from the consumer (obtaining feedback from the consumers) and it tries to know the consumer’s opinion, however the secondary research is information that it has been collected by other organisations. 3. Analyse why an organisation like Kellogg’s would use both qualitative and quantitative data. To beginning with the answer I think that I have to talk about qualitative and quantitative and explain the definitions of these kinds of information.
These kinds of information are valuable in understanding what consumers want or need. The difference between these kinds of data is that qualitative data is concerned more about opinions, feelings and attitudes while quantitative data is numerical information and usually it may involve the use of scales. After that explain the objectives of these types of data I can say that an organisation like Kellogg’s would use both types because when it does a market research it have to do qualitative or quantitative researches depending on the objective of the several stages.
Abstract In this paper the team analyzed three scholarly articles relating to our study. Furthermore, the team also analyzed additional data sets to include more variables like bedrooms and bathrooms in our investigation to test our hypothesis which shows that the results are consistent with the hypothesis. The population size, primary and secondary data, using unbiased information and applying ...
In conclusion I can say that one type doesn’t replace the other, but one complements the other. 4. Evaluate why market research can reduce the risks of a new product launch. Market research can reduce the risks because if the company has developed a product based on the opinions and feelings of the consumers and the consumer has participated in the development, the product should have more success than a product that is created without the supervision of the future customers.