Question

Explain in detail various market research techniques and their applications in business sector.

Answer 1

Answer:

All of these forms of marketing research can be classified as either problem-identification research or as problem-solving research. There are two main sources of data — primary and secondary. Primary research is conducted from scratch. It is original and collected to solve the problem in hand.

Explanation:

Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.