Explanation should include
- definitions of qualitative and quantitative
- primary market research methods (e.g., surveys, questionnaires, interviews, focus groups, test marketing) done by mail, online (e.g., email, social media), or by phone
- secondary market research methods (e.g., analyzing company data, government resources, business directories)
- gathering demographic, financial, and other information helpful to prospective or existing businesses.
Process/Skill Questions:
- How do businesses collect information?
- Why would a business select one data-collection method over another?
- What types of information do marketers collect to improve decision-making?
- What is difference between qualitative and quantitative market research?