Business Studies·Market research · NSSCO 4.2
Market research: primary, secondary & presenting data
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Before a business spends a single dollar, it needs to know what its customers actually want. Market research is how firms find that out. In this lesson we learn the meaning and importance of market research, the difference between primary and secondary research, how to write a good questionnaire, and how to present data clearly. Best of all, we draw our own table, bar chart and pie chart together, step by step.
What you'll learn in this lesson
By the end you should be able to (NSSCO Business Studies 4.2):
- Explain the meaning and importance of market research
- Distinguish between the methods of primary research and secondary research
- Develop a questionnaire
- Present and disperse information for businesses using graphs, pie charts, bar charts, tabulation
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Miss Maria and Mike talk through the whole topic — with the figure and working drawn live.