Requirement of information and facts in order to make a specific decision culminates in need for market research. Depending upon the final data to be gathered from research and financial resources at hand to determine which technique to be used for a business, there are many ways to perform market research, and most businesses use one or more of five basic methods: surveys, focus groups, personal interviews, observation, and field trials.

1. Surveys. To analyze a sample group that represents a specific target market. With concise and straightforward questionnaires the larger the sample size the more reliable and accurate research results will be.

Surveys which are done in-person are one-on-one interviews conducted in location where there is a possibility of contacting largest number of target consumers. In this method consumers are introduced with samples of products, packaging, or advertising and immediate feedback can be collected. It is a very good method in terms of generating response which is more than 90 percent, but they are costly.

Telephonic surveys are less expensive than in-person. However, it is becoming increasing difficult convincing consumer to participate in survey due to relentless telemarketing. But the telephone survey has the advantage of possibility to influence response rate by encouraging reluctant respondent to participate and there is a scope of probing on open ended question and ability to clarify questions for respondents.

Mail surveys are relatively inexpensive than telephone or in person contact but they only generate response less than15 percent. Despite this due to cost-effectiveness mail surveys are preferred choice for small businesses.

Online market research survey is a simple, inexpensive, generates better response rate and most convenient way of gathering customer opinions and preferences. But there are drawbacks as well of this method for instance Email may be seen as spam or invasive, demographics are missed and usually generate unpredictable response rates and unreliable data, because there is no control over the pool of respondents.

2. Focus groups. In focus groups, a scripted series of questions or topics are used to lead a discussion among a group of people. This is more of a qualitative research which generates information based on description and interpretation rather than numeric analysis.

3. Personal interviews. Like focus groups, personal interviews include unstructured, open-ended questions. Focus groups and personal interviews provide more subjective data than numeric analysis. The research results usually don't represent a large enough segment of the population. Nevertheless, focus groups and interviews produce valuable insights into customer attitudes and are excellent ways to uncover issues related to new products or service development.

4. Observation. When consumers are observed about their habits like how they buy or use a product, the information gathered are at odd with individual responses of surveys and focus groups. Market research through observation gives more accurate picture of customers' usage habits and shopping patterns.

5. Field trials. New product is introduced in selected stores to test customers response under real-life selling conditions, this method can provide first hand consumer response which can be utilized for further modifications of product, price variations or improve packaging in order to develop better market for the product.