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Why businesses research markets

Why businesses research markets

Market research is the gathering and analysis of information about customers, competitors and the market. It allows decisions about products, prices and locations to be based on evidence rather than a hunch.

5.3 The purpose and methods of market research Lesson

  1. GCSE
  2. /Business
  3. /5.3 The purpose and methods of market research

Step-by-step lessons on AQA GCSE Business 5.3 The purpose and methods of market research, covering 5.3.1 Purpose of market research, 5.3.2 Primary and secondary research methods, 5.3.2b Qualitative and quantitative research, and 5.3.3 Use of market research. Each one builds up to exam-style questions. Start by mastering business terminology and the functional areas (marketing, finance, operations, HR) before moving on to the extended, evaluation-heavy questions that carry the most marks.

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