Methods of market research

2 TYPES OF MARKET RESEARCH
ALL MARKET RESEARCH IS DIVIDED INTO TWO DIFFERENT CATEGORIES: PRIMARY RESEARCH AND SECONDARY RESEARCH.
1)PRIMARY RESEARCH LOOKS AT ANY DATA THAT YOU COLLECT YOURSELF (OR SOMEONE YOU PAY TO). IT INCLUDES ANALYSIS OF CURRENT SALES, METRICS, AND CUSTOMERS. IT ALSO TAKES INTO ACCOUNT THE EFFECTIVENESS OF EXISTING PRACTICES, WHILE TAKING INTO ACCOUNT COMPETITORS.
2)THE SECONDARY STUDY LOOKS AT DATA THAT HAS ALREADY BEEN PUBLISHED BY OTHER PARTICIPANTS. IT INCLUDES REPORTS AND RESEARCH FROM OTHER COMPANIES, GOVERNMENT ORGANIZATIONS, AND OTHERS IN YOUR INDUSTRY.

MAIN RESEARCH METHODS
THESE BASIC RESEARCH METHODS WILL HELP YOU IDENTIFY BOTH QUALITATIVE AND QUANTITATIVE DATA. QUALITATIVE DATA IS INFORMATION THAT CANNOT BE MEASURED, WHEREAS QUALITATIVE DATA IS TAKEN FROM A LARGE SAMPLE SIZE AND IS A STATISTICALLY SIGNIFICANT MATHEMATICAL ANALYSIS.