IB Business Management SL — Market Research: Notes, Questions & Solutions

IB Business Management SL — Market Research: Notes, Questions & Solutions

Market research is the systematic gathering and analysis of data on a market; primary research collects new data (surveys, interviews, focus groups) while secondary research uses existing sources (government reports, trade publications).

Key points

• Primary research is more relevant but slower and more expensive; secondary research is faster and cheaper but may not fit the specific question.

• Quantitative research produces numerical data (e.g. survey ratings); qualitative research produces descriptive insight (e.g. focus group opinions).

• Sampling methods include random, stratified, quota and convenience sampling — each with different bias risks.

• Once findings are gathered, they feed directly into how a marketing plan is built.

Practice questions

1. State one advantage and one disadvantage of using a focus group as a primary research method. (Advantage: rich, detailed qualitative insight. Disadvantage: small sample size may not represent the whole market.)
   
   

2. Is a government census an example of primary or secondary research? (Secondary research.)
   
   

3. Explain why convenience sampling can produce biased results. (It only reaches people who are easy to access, so the sample may not represent the whole target market.)
   
   

4. A firm wants fast, low-cost background data before committing budget to a full survey. Which type of research should it start with? (Secondary research.)
   
   

5. Define “qualitative data” and give one example of a method that produces it. (Non-numerical, descriptive data; an example method is an interview or focus group.)

Written by sortmyprep | Reviewed by IB Teacher | Last updated: September 15, 2026