Your company wants to conduct an exploratory study to gain new insights into some product changes you are considering. Which type of research method would be most appropriate for this exploratory study?

Answer: Primary Research (Focus Group).

Explanation:

Exploratory Research is an inquiry that seeks to understand the basic causal factors of a problem. This effort can serve as the basis of more intensive research later on.

There are basically two methodologies used, which are the; Primary and Secondary methods. While the Primary method's source of information is the concerned group, the Secondary Methods obtain their information from already existing information (Primary sources), such as Interviews, Journals, etc.

In the case of the company in the question, seeking to gain insight into the changes in a product, it would be best for them to consider what some selected costumers (focus group), think about the existing products and their views on subsequent changes. This method of getting information directly from the focus group employs the primary method.