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Revision as of 18:18, 10 October 2014
Registry of Standard Policy and Practice Parts
SBa_F2001: Market Research
Description
Market research is the process of gathering information about target markets or customers to use for entrepreneurship. The research will typically highlight factors such as market need, market size and competition within a given field, allowing better informed decisions to be made. The approach is generally split into two categories, quantitative and qualitative.
Quantitative market research generally involves the use of questionnaires and scales (see SBa_M0005) which are analysed for statistical inferences, with the goal of revealing consumer views.
Qualitative methods in market research vary widely, but generally consider smaller groups and don’t look for statistical significance within data.
