The purpose and methods of market research study guide

First‑hand data collected directly from sources, such as surveys, interviews or observations.

Research that gathers new, first‑hand data directly from the target group, such as surveys, interviews, or focus groups.

A research method that collects non-numeric, descriptive data to understand attitudes, motivations and behaviours.

First‑hand data collected directly from the target group, such as surveys, interviews, or experiments.

First‑hand data collected directly from sources, such as surveys, interviews, or observations.

A structured arrangement of data in rows and columns, used to organise information for easy comparison.

The proportion of total market sales that a firm captures.

Exam practice

• Which of the following is a primary reason businesses conduct market research?
• Explain how market research can help an online service business understand its competitors.
• Which of the following is an example of primary market research?
• Analyse the advantages and disadvantages of using online surveys as a primary research method for a small online service business.
• Which of the following best describes a key difference between qualitative and quantitative market research?
• Explain one key difference between qualitative and quantitative market research and give an example of each type of research that a small manufacturer might use.
• A small manufacturer wants to determine whether consumers would purchase a new eco‑friendly packaging solution. Which research method is most appropriate to gather initial consumer attitudes?
• Explain one benefit and one drawback of using focus groups for market research in an online service business.
• Which of the following best describes how a qualitative focus group can inform product development for an online service business?
• Analyse how a small manufacturer could use quantitative survey data to decide whether to launch a new product line.
• A bar chart shows the number of units sold by a small retailer for the months January to June. Which month had the highest sales?
• Explain how a company could use a line chart of monthly sales over a year to identify a trend.
• A company sells 15,000 units in a market where total sales are 120,000 units. What is the company's market share?
• A small manufacturer sold 8,000 units in a market where total sales were 50,000 units. Calculate the market share percentage. Show your working.