Different types of market research

There are two different types of market research 'Primaryand Secondary'. Primary is when you are carrying out your own new research. Secondary is research that already exists as it has already been carried out. This is usually the cheaper type method of research but may not inform you of everything you need to know.

Primary research can then be carried out through quantitative or qualitative research.

Quantitative research is numerically oriented, requires significant attention to the measurement of market phenomena and often involves statistical analysis. Perhaps the most common quantitative technique is the 'market research survey'. These are basically projects that involve the collection of data from multiple cases - such as consumers or a set of products. Quantitative surveys can be conducted by mail (self-completion), face-to-face (in-street or in-home), telephone, email or web (as Marketest service)

Qualitative research provides an understanding of how or why things are as they are. Research of this sort is mostly done face-to-face. One of the best-known techniques is market research group discussions (or focus groups)

Doing both types of market research is usually most effective!