- 1st October 2016
There are 2 types of market research that Tesco’s will use to develop their understanding of consumer trends, primary and secondary research. A business will use conduct market research to gain a better understand of what the consumer wants and need, a company like Tesco will do this to find out how they can improve the services they provide to meet the companies over all aims.
Secondary market research
Secondary market research is where a business or organisation will collect information directly from customers within the target market. This can be carried out in a number of ways, and each company will have its own way of gathering this data. Below are a number of techniques used to gain secondary research.
Is used frequently by supermarkets as a way of finding information on how consumers react to in store displays, prices and locations of products. Watching how consumers behave provides a great deal of information however can leave questions unanswered and provide contradicting information.
Surveys ask customers what they want directly often using a questionnaire or interviewing customers in the high street or in stores. Tesco would possibly conduct these surveys within store asking randomly selected customers also as Tesco’s business comes from online they may also issue online surveys.
Is the process of selling and launching a new product in a small area of the market to test the popularity of the product before a national or international launch. It is an expensive for of market research, however a method used frequently by Tesco.