Episode 3: The Purpose and Methods of Market Research
In this episode, we explore the vital role of market research in helping businesses make informed decisions. We discuss the purpose of market research, including understanding demand, analysing competition, and identifying target markets. You'll learn about primary and secondary research methods, such as surveys, focus groups, and internet research, and their benefits and drawbacks.
We also explain the difference between qualitative and quantitative research, and how businesses use their findings to shape decisions, spot market opportunities, and stay competitive. Whether it’s deciding on a new product or interpreting customer feedback, this episode breaks down the essentials of market research for every aspiring business student.
Credits: Audio and AI assistance powered by Google Notebook LM.
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