What is Market Research? The Five Types, and a Basic How to...

The video tutorial explains market research, highlighting its importance in understanding customer perceptions and competitors. It distinguishes between primary and secondary research, detailing five primary research methods: opinion polls, personal interviews, focus groups, customer observation, and field trials. The tutorial concludes with a five-step process for creating a market research project, emphasizing defining objectives, designing the project, collecting and analyzing data, and reporting findings.

Explain the significance of customer observation in market research.

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What are the potential biases that can occur in focus groups?

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Outline the simplified 5 step process to create a market research project.

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