Primary market research, also known as field research, is market research that gathers new original data first-hand for a specific research purpose.
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Secondary market research (desk research) gathers second-data that already exists. Check advantages and disadvantages of secondary research.
Primary research (field research) collects new data for the first time. Read more about advantages and disadvantages of primary market research.
Sales forecasting helps marketing managers to estimate future sales of products and reduce the risk of unforeseen changes in the marketplace.
This article defines investment and answers why businesses invest. It also explains Marginal Efficiency of Capital (MEC) and the determinants of planned investment.
This article talks about issues of conducting ethical market research and examples of unethical market research practices.
This is a very brief summary of how market research can support New Product Development (NPD) in a business organization. In 4 STEPS.
This article defines consumption and saving as well as introduces The Average Propensity to Consume (APC) and The Marginal Propensity to Consume (MPC).
The four basic economic systems that exist in the modern economy include Centrally Planned Economy, Market Economy, Mixed Economy and Traditional Economies.
Sales forecasting is a marketing management technique used by business managers to predict future sales over a period of time.
Any market research results should be treated with caution due to their limitations. Examples exist of firms using faulty research.
Market research helps modern companies to develop products based on consumer demand which has been identified and analyzed.
This article introduces a very basic difference between two highly popular yet frequently confusing terms economy and Economics.
This short story about market research talks about an entrepreneur named Garfred who decided to start his own clothing company.