Use Of Market Research At Nivea

1603 Words Feb 10th, 2016 7 Pages
The Use of Market Research at Nivea - Beirsdorf

Market research is about listening to people, analysing the information to help organisations make better decisions and reducing the risk. It is about analysing and interpreting data to build information and knowledge that can be used to predict, for example, future events, actions or behaviours. This is where the real skill and value of market research lies.

Moreover, the difference between primary and secondary research is that primary research is data that you have collected yourself either by face to face interaction or a questionnaire, surveys or interviews. However, primary research can be expensive and it is designed to meet the objectives. This can be included interviewing people in the streets and ask their opinion on the product or they can hand out questionnaires with a list of questions that obtain feedback from the consumers. On the other hand, secondary research includes books, journal, and the internet and government statistics. The purpose of this is to see other people’s outcome.

Furthermore, quantitative research is a more logical and data-led approach which provides a measure of what people think from a statistical and numerical point of view. It gives a clear representation about the consumers’ views. Whereas, qualitative research is more focused on how people feel, what they think and why they make certain choices. It is often more reliable than quantitative data as the customers can talk about a…
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