Understand the primary purposes of market research, including identifying customer needs, finding gaps in the market, reducing business risk, and informing strategic decisions.
Compare and evaluate primary research methods (such as surveys, questionnaires, focus groups, and observations) with secondary research methods (such as internet research, market reports, and government reports).
Analyze the use of qualitative and quantitative data in market research.
Assess the role of social media in collecting and interpreting market research data.
Evaluate the importance of the reliability of market research data when making business plans.
