It is important to establish consumers' needs before launching a new product. A business conducts market research to help identify gaps in the market and business opportunities.
Why do businesses use market research?
To identify customer needs
To sell goods and services
What does desk research involve?
Gathering new data
Gathering existing data
Which of the following is an example of primary research?
A focus group
Which of the following is an example of secondary research?
An online survey
What is random sampling?
A sample that targets a specific market segment
A sample that does not target a specific market segment
A sample made up of women between the ages of 20 and 30 years of age