ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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secondary research
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primary research
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continuous research
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ad hoc research
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Detailed explanation-1: -Continuous research is undertaken to provide regular, ongoing data, information, and insights as opposed to ad hoc studies that are more project oriented and carried out at specific times for specific reasons.
Detailed explanation-2: -Primary research is research you conduct yourself (or hire someone to do for you.) It involves going directly to a source – usually customers and prospective customers in your target market – to ask questions and gather information. Examples of primary research are: Interviews (telephone or face-to-face)
Detailed explanation-3: -Market research blends consumer behavior and economic trends to confirm and improve your business idea. It’s crucial to understand your consumer base from the outset. Market research lets you reduce risks even while your business is still just a gleam in your eye.