Depending on the type of data required market research is divided into two types:
i. Qualitative Market Research: This type of research is done when you want to get insight into the opinions and feelings of the consumer with respect to the products and services of the company. This is done through one on one interview or by forming a focus group.
ii. Quantitative Research: This is done when facts and statistics are more important. It involves working on a large amount of information from statistics.