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.

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

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