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Market

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Submitted By cemdemir
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markePRIMARY RESEARCH:
Primary research is information sourced from inside the organisation (new information). It is only shown in your company. So no one else can see it.
; Finance records, focus groups, internet surveys, questionnaires, sampling, exit surveys, till surveys, interviews, shopping bags, surveys.

SECONDARY RESEARCH:
Secondary research is information sourced from outside the organisation (old information, already exists)
; Government statistics, competitor’s questionnaire result, competitor’s end of year accounts, newspapers/magazine articles, census records (official), government survey results, and internet.
How does Tesco use market research?
They do market research all the time - they can see exactly what is selling through their tills every hour of every day due to all that barcode scanning. They can then make future purchasing decisions on this information - and know just how much stock to carry in any particular supermarket to reflect local preferences. They know who is buying what by collecting demographics of their customers in reward schemes. They monitor what their rivals are doing and at what price they are selling comparable brand items.
They also employ focus groups and panels to test new products to see if they will sell, to ensure that recipes are acceptable and that packaging has the right sort of appeal. Their budget for market research is eye-wateringly large - but the dividends they produce make or break their profit margins.
Examples of research Primary Research | Secondary Research | They give sampling before you enter the store of a new food that may be sold depending on what kind of feedback the customers give. This is called sampling. | They monitor their rival’sprices of products and their money in and out of the business. They will look at their end of year finance records. | They may ask you questions about

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