In a nutshell, primary research is original research conducted by you or someone you hire to collect data specifically for your current objective.
You might conduct a survey, run an interview or a focus group, observe behavior, or do an experiment. You are going to be the person who obtains this raw data directly and it will be collected specifically for your current research need. Conversely, secondary research involves searching for existing data that was originally collected by someone else.
You might look in journals, libraries, or go to online sources like the US census. You will apply what you find to your personal research problem, but the data you are finding was not originally collected by you, nor was it obtained for the purpose you are using it for.
I hope that makes sense. If not, read on for some examples and a little more detail. The downside, of course, is that you may not be able to find secondary market research information specific enough or recent enough for your objectives.
Sources of Secondary Data Secondary data comes in all sorts of shapes and sizes. There are plenty of raw data sources like the US Census , Data. Internal company data like customer details, sales figures, employee timecards, etc. Published articles, including peer-reviewed journals, newspapers, magazines, and even blog postings like this count as secondary data sources.
Social media data is a new source of secondary data. Primary market research helps businesses minimize their risk and stay ahead of their competition. Primary market research refers to the collection of data directly from its source. Primary market research takes raw data, typically gathered through focus groups or surveys, and uses it for a variety of business purposes.
This type of research is often carried out after a company receives information from secondary sources. Primary market research provides a number of benefits for businesses and organizations. Because the organization has complete control over the process, primary market research can be used to address specific issues.
The company performing the research should be able to focus their efforts on finding data in regards to a specific market. Most of the time secondary data is not up-to-date or relevant to the situation that the marketer is attempting to address. In addition to the aforementioned benefits, organizations that collect primary market data own that information and can choose to keep it private, giving them a competitive edge over their competition.
Vault Consulting offers extensive primary market research for a variety of industries.
When conducting primary market research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents.
Primary Market Research Primary research is research that is conducted by you, or someone you pay to do original research on your behalf. In the case of primary .
Primary market research tends to take the raw data such as information collected through focus groups or surveys, and interpret the data for a variety of business purposes. Conversely, secondary market research relies on information previously gathered. Primary market research is tailored to a company’s particular needs and is conducted either by you or by a company that you pay to conduct the research for you. Focus groups, surveys, field tests, interviews, and observation are examples of .
Primary research gives you a lot of specific results. For example, a focus group would be asked specific questions (that you help design) so . Primary market research services from survey design and sampling to data collection, analysis & presentation using qualitative & quantitative research.