Chapter 4 – Market Research and Market Data

Market research

Instructions

Complete the table by identifying the two main methods of market research to allow viewing of suggested answers.

Chapter 4 PDF, page 1

Methods of market research

Description

Advantages

Disadvantages

Desk research

Desk research is carried out using existing sources of information.

Quick and easy. It is cheap.

Not specific to the business. It may be out of date.

Field research

Field research involves collecting primary data. This is data from a new source and is collected especially for the business for a specific purpose.

Gives data on exactly what the business wants. The data is up to date.

Can take time to carry out. It can be expensive.