while conducting new product( like electic bulb) which type of research uses , what will be...

while conducting new product( like electic bulb) which type of research uses , what will be study setting , what data collection method used and aexplain unit of analysis and respondent?
(business research method)
give short answers

Expert Solution

Market research is the best method or way that must be followed by any productive unit before producing a new product. Here to produce electric bulb, market research regarding its demand in the market and its consequences must be analysed.

Since here the company is trying to setup a new product, it needs to know the market demand or consumers' perspective regarding the product. Thus for the product, primary data should be collected. Surveys using questionaire can be conducted so that the responses can well be recorded in a systematical manner. Then using those responses, researcher can decide, whether that product is acceptable in market or not.
Suppose a researcher is finding the market setup for electric bulb. the most important information that it has to collect is, how many of the respondent is having electricity to use the product, then they may find how many have need of the product, etc. By analysing many such aspects, the market for the new product can be predicted.

Rahul Sunny answered 1 year ago

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