What is desk research in business

Enterprise Economy - Business Administration HAK I, textbook

Preparations in Purchasing and Sales 78 Identifying customer needs with market research In order for the seller to be able to conclude a sales contract, he must offer a product for which a buyer can also be found. Therefore, the first step in signing a contract is to find out what can be sold with the help of market research. Successful selling must always be based on the needs of the buyer. It is therefore an important task of market research to research the conscious and unconscious needs of the buyer in order to develop suitable products and services. Market research can basically find out what needs buyers have with the help of primary or secondary research. In primary research, new data are collected through surveys (see Task 1) or through observation of purchasing behavior. In secondary research, existing data (sales figures, older primary research data, statistics, etc.) that have been collected by the company or by third parties are re-evaluated. Market research with customer cards Customer cards that offer discounts or bonus programs are ubiquitous in retail. In Austria alone, the ten largest loyalty card providers have more than 20 million cards in circulation. On the one hand, sellers try to bind customers with customer cards, on the other hand they represent a powerful form of market research - collecting buyer data through (electronic) observation at the point of sale (point of sale). Modern IT equipment makes it possible Sellers to save every purchase with a customer card and analyze it for various purposes. Due to the linking of the data with the personal details of the card (especially age, gender and place of residence), for example, buying habits or needs of customer groups (e.g. young people, women, townspeople, ...) can be easily recorded. What advantage do companies have when they issue loyalty cards? 8.1 Market research Marketing mix Market research Primary research Secondary research • Survey • Observation • Statistics • Sales figures • Old primary data PRACTICE q CHECKED? For testing purposes only - property of the publisher öbv

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