Market Research involves collection of data in a systematic and objective manner through primary research or secondary research, in order to analyse the target market, competition or environment. It can be carried in two ways: Quantitave research, which is gathered through survey and questionnaires. Here the researcher focuses on coming up with numbers, example- what percentage of the population buys a particular product. Qualitative research, gets behind the facts and figure to find how people feel about a particular product. Researchers take interview, use questionnaires and interpret the result.
