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The systematic gathering and obtaining of information about a market through surveys, observation or experimentation is what is called Market Research. Objective identification, collection, analysis and dissemination of information for the purpose of assisting in decision making related to the identification and solution of problems (and opportunities) in marketing. When doing market research one is looking at potential customers spending habits, location, characteristics , demographics etc. Everything that is important for the company personally. When searching for information it is important that the obtained information is accurate and thorough. That is the basis of all of the information of existing and yet to become customers. Market research is an important segment in business planning. There are two types of market research data. The first type is called  primary information. This is information that a company director gathers himself, or employs someone to do that. The second one is called secondary information. This type of research is usually already done and prepared for the director. It can consist of any additional data such as reports and studies made by government agencies, some other associations which are included in one’s own company. Most of the information that a director gathers is usually secondary.

 

 

 

 

 

 

 

 

 

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