MANAGEMENT

Detailed explanation-1: -Primary data, also sometimes referred to as raw data, is information collected specifically for the purpose of the research at hand. It is first-hand data collected by the researcher, rather than through another person or source.

Detailed explanation-2: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.

Detailed explanation-3: -Qualitative research isn’t so much about numbers as it is about people – and their opinions about your business. Typically conducted by asking questions either one-on-one or to groups of people, qualitative research can help you define problems and learn about customers’ opinions, values and beliefs.

Detailed explanation-4: -By implementing Quantitative Market Research, questions like “Who are currently buying my products/services?”, “Why are the others not buying my product?”, “How to reach out to my potential clientele?” are answered.