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30 Nov 2025

3 pages

Comprehensive Guide to Market Research

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Charlotte Dench

@charlottedench_fxap

Market research is your secret weapon for understanding what customers... Show more

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# Market research
Key terms
What is the purpose of market research
- identify and understand consumer needs
- identify gaps in the market
-

Understanding Market Research Basics

Think of market research as detective work for businesses - it's all about gathering clues to understand customers, competitors, and what's happening in the marketplace. Companies use this information to spot opportunities and avoid making expensive mistakes.

Primary research means collecting fresh data directly from customers through surveys, interviews, or focus groups. It's like conducting your own investigation. Secondary research involves using existing information from sources like government reports, news articles, or company annual reports.

The main benefits are pretty straightforward: businesses can make better decisions, create targeted marketing plans, and quickly adapt when market trends change. It's essentially insurance against launching products nobody wants.

Key Point: Market research reduces the risk of business failure by providing real data instead of educated guesses.

# Market research
Key terms
What is the purpose of market research
- identify and understand consumer needs
- identify gaps in the market
-

Comparing Research Methods and Social Media's Role

Primary research gives you up-to-date, specific information that's perfectly tailored to your needs. However, it's often expensive and time-consuming to collect. Secondary research is quicker and cheaper but might not be specific enough or could be outdated.

Social media has revolutionised market research by providing instant access to customer opinions and trending topics. Platforms like Twitter and Instagram offer a goldmine of real-time data about what people are discussing and wanting.

The beauty of social media research is that it's incredibly cost-effective and can reach millions globally. Plus, you don't need advanced technical skills to monitor conversations and gather insights about customer preferences.

Quantitative data deals with numbers and statistics (how many people buy your product), while qualitative data focuses on opinions and feelings (why they buy it). Both types are crucial for getting the complete picture.

Key Point: Social media provides instant, cost-effective access to customer opinions that would traditionally require expensive surveys.

# Market research
Key terms
What is the purpose of market research
- identify and understand consumer needs
- identify gaps in the market
-

Market Orientation and Segmentation Strategies

Businesses can either be market-oriented (responding to what customers want) or product-oriented (focusing on innovation and what they do best). Most successful companies today lean towards market orientation because customers have become more demanding and knowledgeable.

Market segmentation involves dividing your potential customers into specific groups based on shared characteristics. You might segment by demographics (age, gender), geography (location), or behaviour (how often they buy).

The advantages of segmentation include meeting customer needs more precisely and avoiding wasteful marketing. You can create targeted products and focus your strategy on specific audiences rather than trying to please everyone.

However, segmentation can be costly and time-consuming. There's also a risk of creating too many different products or making your business focus too narrow, potentially missing broader market opportunities.

Key Point: Effective market segmentation helps businesses target the right customers with the right products, but balance is essential to avoid over-complication.



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App Store

4.8/5

Google Play

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

Best app on earth! no words because it’s too good

Thomas R

iOS user

Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.

Basil

Android user

This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.

Rohan U

Android user

I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.

Xander S

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now

Paul T

iOS user

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

Best app on earth! no words because it’s too good

Thomas R

iOS user

Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.

Basil

Android user

This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.

Rohan U

Android user

I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.

Xander S

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now

Paul T

iOS user

 

Business

372

30 Nov 2025

3 pages

Comprehensive Guide to Market Research

user profile picture

Charlotte Dench

@charlottedench_fxap

Market research is your secret weapon for understanding what customers actually want - not what you think they want. Every successful business uses this data to make smarter decisions, avoid costly mistakes, and stay ahead of their competitors.

# Market research
Key terms
What is the purpose of market research
- identify and understand consumer needs
- identify gaps in the market
-

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Understanding Market Research Basics

Think of market research as detective work for businesses - it's all about gathering clues to understand customers, competitors, and what's happening in the marketplace. Companies use this information to spot opportunities and avoid making expensive mistakes.

Primary research means collecting fresh data directly from customers through surveys, interviews, or focus groups. It's like conducting your own investigation. Secondary research involves using existing information from sources like government reports, news articles, or company annual reports.

The main benefits are pretty straightforward: businesses can make better decisions, create targeted marketing plans, and quickly adapt when market trends change. It's essentially insurance against launching products nobody wants.

Key Point: Market research reduces the risk of business failure by providing real data instead of educated guesses.

# Market research
Key terms
What is the purpose of market research
- identify and understand consumer needs
- identify gaps in the market
-

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Comparing Research Methods and Social Media's Role

Primary research gives you up-to-date, specific information that's perfectly tailored to your needs. However, it's often expensive and time-consuming to collect. Secondary research is quicker and cheaper but might not be specific enough or could be outdated.

Social media has revolutionised market research by providing instant access to customer opinions and trending topics. Platforms like Twitter and Instagram offer a goldmine of real-time data about what people are discussing and wanting.

The beauty of social media research is that it's incredibly cost-effective and can reach millions globally. Plus, you don't need advanced technical skills to monitor conversations and gather insights about customer preferences.

Quantitative data deals with numbers and statistics (how many people buy your product), while qualitative data focuses on opinions and feelings (why they buy it). Both types are crucial for getting the complete picture.

Key Point: Social media provides instant, cost-effective access to customer opinions that would traditionally require expensive surveys.

# Market research
Key terms
What is the purpose of market research
- identify and understand consumer needs
- identify gaps in the market
-

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Market Orientation and Segmentation Strategies

Businesses can either be market-oriented (responding to what customers want) or product-oriented (focusing on innovation and what they do best). Most successful companies today lean towards market orientation because customers have become more demanding and knowledgeable.

Market segmentation involves dividing your potential customers into specific groups based on shared characteristics. You might segment by demographics (age, gender), geography (location), or behaviour (how often they buy).

The advantages of segmentation include meeting customer needs more precisely and avoiding wasteful marketing. You can create targeted products and focus your strategy on specific audiences rather than trying to please everyone.

However, segmentation can be costly and time-consuming. There's also a risk of creating too many different products or making your business focus too narrow, potentially missing broader market opportunities.

Key Point: Effective market segmentation helps businesses target the right customers with the right products, but balance is essential to avoid over-complication.

We thought you’d never ask...

What is the Knowunity AI companion?

Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.

Where can I download the Knowunity app?

You can download the app from Google Play Store and Apple App Store.

Is Knowunity really free of charge?

That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.

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Most popular content: Market Research

Most popular content in Business

Most popular content

Can't find what you're looking for? Explore other subjects.

Students love us — and so will you.

4.9/5

App Store

4.8/5

Google Play

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

Best app on earth! no words because it’s too good

Thomas R

iOS user

Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.

Basil

Android user

This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.

Rohan U

Android user

I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.

Xander S

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now

Paul T

iOS user

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

Best app on earth! no words because it’s too good

Thomas R

iOS user

Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.

Basil

Android user

This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.

Rohan U

Android user

I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.

Xander S

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now

Paul T

iOS user