Primary Research
- Primary market research is the process of gathering information directly from consumers in the target market
- This process gathers information that does not already exist and is specific to the needs of the business collecting it
- This process gathers information that does not already exist and is specific to the needs of the business collecting it
- Surveys, interviews and focus groups are common primary market research methods
- Many of these methods make use of questionnaires to organise research questions and responses
- Many of these methods make use of questionnaires to organise research questions and responses
Primary Market Research Methods
Method |
Explanation |
Surveys |
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Observation |
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Interviews |
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Test marketing |
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Focus groups |
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- A business will often use more than one method of primary research in order to build up a reliable understanding of the market
- The data can then be analysed and used to make data-led judgements such as how much to charge for a new product and where to sell it
- The data can then be analysed and used to make data-led judgements such as how much to charge for a new product and where to sell it
Evaluating Primary Market Research
Advantages |
Disadvantages |
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- Traditionally, primary research has been relatively difficult and expensive for businesses to gather
- The rise of social media platforms such as Facebook, Twitter, Instagram and TikTok provides businesses with incredible primary research opportunities
- The speed of communication between businesses and customers can be almost instantaneous
- Online surveys or polls allow large numbers of responses to be received in a short period of time
- The cost of gathering this information can be very low
- Online polls take a few minutes to set up and software automatically gathers and analyses results
- Online polls take a few minutes to set up and software automatically gathers and analyses results
- The speed of communication between businesses and customers can be almost instantaneous
- Online businesses can collect primary market research via electronic means
- Customers are also able to feedback quickly on products, or to express innovative ideas about how they want the products to be changed
- Feedback may help a business to develop [popover id="xNJ82r9tu3_RRhsS" label="extension strategies"] in a product's life cycle
- Customers are also able to feedback quickly on products, or to express innovative ideas about how they want the products to be changed