7115 · 3.2
Market research
**Market research** (3.2). Case questions ask why a firm **should or should not** research, and whether to use **primary** or **secondary** methods — justify with the firm's size and budget.
Need to know
What you need to know
- Replaces intuition with evidence-based decision-making.
- Reduces financial risk by preventing investment in non-viable products or strategies.
- Minimises reputational risk by aligning business activities with consumer expectations.
- Identifies potential problems before significant resources are committed.
Explanation
Market research
- Replaces intuition with evidence-based decision-making.
- Reduces financial risk by preventing investment in non-viable products or strategies.
- Minimises reputational risk by aligning business activities with consumer expectations.
- Identifies potential problems before significant resources are committed.