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4.4
Market
Research
Organisations carry out market research in order to develop marketing objectives and prepare a marketing mix. Market research can be performed by the business, but will often be outsourced to professional marketing experts. These experts will collect both quantitative and qualitative research using primary and secondary market research techniques.
For the best results, an appropriate sampling method should be chosen in order to gather data from an appropriate set of participants that reflect the type of consumer the business is targeting. At the same time, the cost and time pressures business face may limit the sophistication of the sampling method available. Ethical considerations may also play a part in the sampling methods and data collection techniques employed.
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