Think of it like the "spy glasses" businesses wear to understand what customers really want. It's all about collecting info on market needs and preferences.

Real-World Example: Imagine you're trying to create a super popular lemonade stand in your school. Before you start selling, you'll ask your friends about the best flavors or perhaps how much they'd pay. That's a simple form of market research!

• 📊 Quantitative Research: It's all about numbers! Like counting how many students bought your lemonade or taking a survey to see which flavor is most popular.

  Example: Out of 100 students, 70 picked strawberry lemonade as their favorite.

• 🎤 Qualitative Research: Diving deep into opinions and feelings. Forget numbers, now you're listening to WHY someone prefers strawberry lemonade and the emotions around it.

  Example: A group of students says they love strawberry lemonade because it reminds them of summer vacations.

• Surveys/Questionnaires: Businesses ask customers directly about their experiences or preferences.

  Real-World Example: Remember when company X (the cellphone maker) asked people what they wanted in a new phone? They might've used an online survey or a feedback form in their store.

• Observations: Just watching and noting! Companies look at how customers behave or interact with products.

  Real-World Example: Think of a toy store where they let kids play with toys before buying. The company observes which toys kids play with the most to understand which one might be popular.