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11 Dec 2025
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Understanding Different Types of Market Research for Businesses
evie
@e777
1 / 6
Types of Market Research
Understanding market research is absolutely essential for any business wanting to succeed. Think of it like checking the weather before planning a day out - you wouldn't want to be caught unprepared!
There are two main approaches businesses use to gather information about their customers and competitors. Each method has its own strengths and is suited to different situations and budgets.
Quick Tip: Remember that most successful businesses use both types of research to get a complete picture of their market.
Primary Research
Primary research (also called field research) means collecting brand new information directly from your target audience. It's like being a detective gathering fresh evidence rather than reading someone else's case notes.
This approach gives you first-hand contact with customers, making it incredibly valuable for understanding exactly what people think about your business. The information you collect is more accurate and up to date because you're getting it straight from the source.
Popular methods include focus groups, surveys, questionnaires, and social media engagement. You might also use observations or experiments to see how customers actually behave rather than just what they say they do.
Remember: Primary research takes more time and costs more, but it's specifically tailored to your exact needs.
Secondary Research
Secondary research (or desk research) involves gathering information that already exists somewhere else. It's like using a library instead of conducting your own experiments - much quicker but less personalised.
This method is less time consuming and generally cheaper than primary research. You'll often find quantitative data (numbers and statistics) through sources like internet sites, market reports, governmental reports, and sales data.
Many businesses cleverly use social media as an affordable way to track market trends, customer opinions, and keep tabs on what their competitors are doing. Local newspapers and telephone directories can also provide useful background information.
Key Point: Secondary research gives you a broader view but might not answer your specific questions as precisely as primary research would.
Market Research Questions
Smart businesses focus their market research on three crucial areas to get the most useful insights. Knowing what questions to ask can make or break your research efforts.
Customer-focused questions help you understand what people actually value and how much they're willing to pay. You might ask about product benefits, potential improvements, or pricing preferences.
Competitor analysis involves finding out who your closest rivals are, what their market share looks like, and what makes them successful. Meanwhile, market questions focus on overall trends, pricing, and whether the market is growing or shrinking.
Common data collection methods include multiple choice questions, yes/no questions, sliding scales , and open-ended customer comments for detailed feedback.
Exam Tip: Practice identifying which type of question would work best for different business scenarios - this often appears in exam questions!
Example Exam Question 1
This question tests your understanding of secondary research benefits compared to primary research. The correct answers focus on practical advantages like time and cost savings.
Answer: B and C - Secondary research is less time consuming because the information already exists, and it offers a wider range of information since you can access multiple sources quickly.
Options A, D, and E are incorrect because secondary research doesn't directly add value to products, isn't more specific to your target market (that's primary research's strength), and doesn't affect production costs directly.
Study Strategy: When answering comparison questions, focus on the unique strengths of each research method rather than general business benefits.
Example Exam Question 2
This question asks you to identify an inappropriate market research method for a new small business. Think about practical constraints like budget and resources.
Answer: A - Employing a specialist company to survey 10,000 people would be extremely expensive and unnecessary for a small business just starting out.
Options B, C, and D are all realistic and cost-effective methods that small businesses can actually afford and manage themselves. Published statistics are often free, short questionnaires are manageable, and interviews provide valuable direct feedback.
Exam Success: Always consider whether the research method matches the business size and budget when answering these types of questions.
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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
Understanding Different Types of Market Research for Businesses
evie
@e777
Market research is how businesses figure out what customers actually want and what's happening in their industry. There are two main ways to gather this crucial information, and knowing the difference could save you loads of time and money in... Show more
Types of Market Research
Understanding market research is absolutely essential for any business wanting to succeed. Think of it like checking the weather before planning a day out - you wouldn't want to be caught unprepared!
There are two main approaches businesses use to gather information about their customers and competitors. Each method has its own strengths and is suited to different situations and budgets.
Quick Tip: Remember that most successful businesses use both types of research to get a complete picture of their 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
Primary Research
Primary research (also called field research) means collecting brand new information directly from your target audience. It's like being a detective gathering fresh evidence rather than reading someone else's case notes.
This approach gives you first-hand contact with customers, making it incredibly valuable for understanding exactly what people think about your business. The information you collect is more accurate and up to date because you're getting it straight from the source.
Popular methods include focus groups, surveys, questionnaires, and social media engagement. You might also use observations or experiments to see how customers actually behave rather than just what they say they do.
Remember: Primary research takes more time and costs more, but it's specifically tailored to your exact needs.
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
Secondary Research
Secondary research (or desk research) involves gathering information that already exists somewhere else. It's like using a library instead of conducting your own experiments - much quicker but less personalised.
This method is less time consuming and generally cheaper than primary research. You'll often find quantitative data (numbers and statistics) through sources like internet sites, market reports, governmental reports, and sales data.
Many businesses cleverly use social media as an affordable way to track market trends, customer opinions, and keep tabs on what their competitors are doing. Local newspapers and telephone directories can also provide useful background information.
Key Point: Secondary research gives you a broader view but might not answer your specific questions as precisely as primary research would.
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 Research Questions
Smart businesses focus their market research on three crucial areas to get the most useful insights. Knowing what questions to ask can make or break your research efforts.
Customer-focused questions help you understand what people actually value and how much they're willing to pay. You might ask about product benefits, potential improvements, or pricing preferences.
Competitor analysis involves finding out who your closest rivals are, what their market share looks like, and what makes them successful. Meanwhile, market questions focus on overall trends, pricing, and whether the market is growing or shrinking.
Common data collection methods include multiple choice questions, yes/no questions, sliding scales , and open-ended customer comments for detailed feedback.
Exam Tip: Practice identifying which type of question would work best for different business scenarios - this often appears in exam questions!
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
Example Exam Question 1
This question tests your understanding of secondary research benefits compared to primary research. The correct answers focus on practical advantages like time and cost savings.
Answer: B and C - Secondary research is less time consuming because the information already exists, and it offers a wider range of information since you can access multiple sources quickly.
Options A, D, and E are incorrect because secondary research doesn't directly add value to products, isn't more specific to your target market (that's primary research's strength), and doesn't affect production costs directly.
Study Strategy: When answering comparison questions, focus on the unique strengths of each research method rather than general business benefits.
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
Example Exam Question 2
This question asks you to identify an inappropriate market research method for a new small business. Think about practical constraints like budget and resources.
Answer: A - Employing a specialist company to survey 10,000 people would be extremely expensive and unnecessary for a small business just starting out.
Options B, C, and D are all realistic and cost-effective methods that small businesses can actually afford and manage themselves. Published statistics are often free, short questionnaires are manageable, and interviews provide valuable direct feedback.
Exam Success: Always consider whether the research method matches the business size and budget when answering these types of questions.
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
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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