Role of Market Research:

Market Research is a method of collecting, recording and analyzing information about customers, competitors and products and services.

Primary Data:

Information collected for the very first time to fit a specific purpose. Examples: surveys, observations and focus groups.

Disadvantages of Primary Data - It can be expensive to collect and time-consuming to attain.

Secondary Data:

Information that has already been published; information that may include population, family size, household income, industry forecasts, economic trends,etc.. (see examples on page 103)

Disadvantages of Secondary Data - It can be out of date and possibly unreliable.

	Created by Maria Soto about 4 years ago

9th grade ETB Slide Set on Chapter 4, created by Maria Soto on 16/04/2020.

Chapter 4