Test revision (17/01/18) by Mackenzie Shaw https://padlet.com/13mshaw/ykhykb01qjxe The importance of market research en-us 2018-01-17 14:37:22 UTC 2018-01-17 14:47:22 UTC hello@padlet.com Qualitative and quantitative data 13mshaw https://padlet.com/13mshaw/ykhykb01qjxe/wish/222076942 Qualitative data- is data involving views and opinions.
Quantitative data- is data that can be expressed as numbers (statistically expressed). ]]> 2018-01-17 14:39:25 UTC https://padlet.com/13mshaw/ykhykb01qjxe/wish/222076942 Why is market research important? 13mshaw https://padlet.com/13mshaw/ykhykb01qjxe/wish/222078015 By carrying out market research it will hopefully enable businesses to launch a product/service that is wanted/needed and will be able to reduce failure as much as possible.]]> 2018-01-17 14:41:36 UTC https://padlet.com/13mshaw/ykhykb01qjxe/wish/222078015 Market research can 13mshaw https://padlet.com/13mshaw/ykhykb01qjxe/wish/222079297
  • Reduce costs
  • Make it so the business can compete
  • Identify whether the product/service is viable (worth making)
  • Be affordable
  • Choose the correct type of market research for the business
  • Personalize the market research
  • Target customers/potential customers much easier
  • Increase sales and proft
  • Allow businesses time to act on any changes
    • ]]>     2018-01-17 14:44:30 UTC https://padlet.com/13mshaw/ykhykb01qjxe/wish/222079297