Singapore Company Registration | Incorporation | Company Setup
  • Home
  • Banking Services
  • Funding
    • Loans
  • Business Formation
  • Business Investments
  • Resources
  • Free Business Listing
Business Resources >>
Menu >>
  • Small Medium Enterprise (SME) Grant
  • Brief History of Singapore
  • Singapore Economy
  • Why Setup in Singapore?
  • Type of Business Entities
  • Singapore EntrePass
  • Singapore Employment Pass
  • Singapore Immigration
  • Travel To Singapore
  • Accommodation In Singapore
  • Hotels In Singapore
  • Corporate Credit Cards
  • Forex Exchange
  • Stock Market
  • Courier Services
  • Cash Management
  • Singapore Money Lenders
  • Recover Bad Debts
  • Wealth Management
  • Risk Management
  • Accounting Services
  • Auditing Services
  • Bookkeeping
  • Corporate Secretarial Services
  • Taxation Services
  • Payroll Services
  • Singapore Tax Rates
  • Singapore Banking Services
  • Singapore Web Hosting
  • Singapore Exchange Cloud Hosting
  • Singapore Virtual Office
  • Singapore Serviced Office
  • Home Office
  • Singapore Offshore Company
  • Singapore Offshore Banking
  • Articles
  • FAQs
  • Business Plan Resources
  • Business Calculators
  • Links
  • Free Business Listing
Articles::  Types of Market Research

Market research is the process of gathering information about your customers, competitors, market trends, etc.
What Is Market Research?
  • Market research is the process of gathering information about your customers, competitors, market trends, etc.
  • Conducting market research is important if:
    • you are looking for business opportunities in new markets
    • you have invented something new or improved on an existing product, and want to find out if there is demand for it
    • you plan to introduce your products in a new market
  • You may conduct either primary or secondary research.
Primary Research
  • When you collect information directly from the source, it is called primary research. This includes information collected through:
    • surveys
    • interviews
    • focus group sessions
  • Talking to customers to garner feedback is often the simplest method. Alternatively, you may wish to engage a marketing research company to conduct primary research.
  • Primary research is usually:
    • time consuming
    • costly
    • tailored to suit your specific needs
    • valuable especially if you need to know something specific



Secondary Research

  • Secondary research is conducted by looking at sources such as magazines, Government publications, industry surveys, economic environment, trade associations, chambers of commerce, libraries, etc.
  • Secondary research :
    • is usually less time consuming
    • is usually less costly
    • may not be updated
    • is usually not customised to suit your needs
    • may be sufficient if you require just general information such as industry profile, trends and demographics
Business Highlights >>
Business Resources >>
Business Plan Pro
Powered by Create your own unique website with customizable templates.