Essay on Business: Scientific Method and Market Research

Submitted By Eakramul
Words: 578
Pages: 3

Conducting start-up market research 1. Explanatory is basically when you are explaining something to the consumer this can be about your product or service, Predictive is when you are going to predict something about your business, for example if you raise the price up what’s your customers going to do. 2. Primary market research is new specific information, secondary market research the use of information that has been conducted by someone else for their purpose. 3. The reason why you would conduct secondary research is because the information is already is there, you don’t have to do anything, so you can get that information and see what is on it and look at how successful it is, then you can go and do a primary market research and now you know what to do because you already so and example. 4. The reason why they would use observation is because then they can see customers reaction and thought processes, you can also what attracts customers to the business and what offers they like. 5. One benefit of using personal interviews is that you can actually see the reaction of the customers when you are questioning them, you can also see their emotions about your ideas.
Another benefit is that you can ask them a lot of questions and you can also get open answers from them, plus you can ask them what they want from you so you can meet their demands. 6. One problem of using postal questionnaire is that the body language of the person cannot be observed as the person cannot be seen.
Another problem with postal questionnaire is that people who do mail back the questionnaire might not have all of the questions answered in it. 7. Random sample means a group of people in which each member of the target population has an equal chance of being chosen.

8. The main difference between the quota and stratified sampling is that in the stratified sampling the researcher cannot select the individuals to be included in the sample, he doesn't have control over who will be in the sample, but in the quota sampling the researcher has control over who will be in the sample, he can contact certain people and include them in the sample.

9. One way that a sample can bias is that when the person is conducting…