Analyzing The Collecting Data From Market Research

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A). Research Methodology

Introduction and explanation of methodology we used in our project

The collecting data from market research is one of the most effective ways a company can use to do business. Consumer behavior, current market trend awareness and the competitors will enable you to find a opportunity and run a business that fulfils the consumers desires and needs. Its also allows company to spot current trends in past scenario and what may will come in the future which will help a company to become more prepared and able to reduce gaps and other chances in the market. To communicate with consumers, suppliers and other stake holder’s business decision can reduce risk. Business decision lets company to measure their performance and gives clear view what customers really expect from company.
There are two types of data primary data and secondary data. In primary data we can collect by doing interview, survey and questionnaire and the secondary data we can get the information about the product by its past records, magazine or news papers. The process used to gathering data information and data for the purpose of making business decision.
The methodology includes questionnaire, interviews, surveys and other research techniques and could include both present and past information. There are so many types of methods and technique in market to do research for a product but in our project we all decided to do research by quantitative method because by quantitative method

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