Market research refers to the practice of gathering information about the target audience. These can be primary methods, such as surveys, interviews, observations, and ethnographic research. Likewise, secondary methods like directories, news, articles, and many online magazines can be used for collecting data. Choosing market research methods require you to think of the goal, at first.
Therefore, you need to know or assess what information you require, if it should be from the customers directly, or secondary sources. For instance, if the company is likely to introduce a new product, primary research methods can provide better and accurate perception of customers. In all, this research technique can let you discover the viability of a product or service.
The secondary market research methods can be helpful in finding insights of the existing research or discovery. So, this method is useful in creating a comparative study or gap analysis.