Skip Nav

The Five Basic Methods of Market Research

Related posts

❶Another superb and highly effective way to conduct primary market research is through surveys and questionnaires. A skilled interviewer knows how to engage and persuade the respondent to participate and give more complete answers.

Interviews

Real Business Advice!
Questionnaires/Surveys
Real Business Owners,

Social media data is a new source of secondary data. For example, the New York Times collected Twitter traffic during the Super Bowl and produced this stunning visualization of comments throughout the game.

It is increasingly possible to obtain behavioral data from secondary sources, which can be more powerful and reliable than self-reported data via surveys and focus groups. If you have a moment, check it out. Primary Market Research Primary research is research that is conducted by you, or someone you pay to do original research on your behalf. You might choose to gather this data by running a survey, interviewing people, observing behavior, or by using some other market research method.

I hope this tutorial on the differences between primary and secondary research has been helpful. If I missed something or if you have something to add, please do so with a comment below. Primary vs Secondary Market Research. Also, questions can be misinterpreted by the individual responding. Telephone surveys are another option. The questions are typically similar to the questionnaires sent in the mail, but the interviewer can guide the participant so that misunderstandings are limited and more information can be drawn out over the phone.

Observations are an interesting primary research method because participant behavior can often be very enlightening. Trained observers or cameras can record how participants behave in a certain situation, providing researchers with real evidence as to how a consumer responds, for example, to an organization's product or service.

Focus groups are another primary research method. In a focus group, a moderator leads a discussion about a particular subject. The moderator might show pictures of potential advertisements, or ask the participants to try the product right there and give their opinions.

The advantage of focus groups is that participants can build upon each other ideas. The downside is the moderator can be biased, a dominant participant can take up too much talk time, or some participants may be hesitant to express their true opinion in a public setting. A company might choose to place a new product or service in a select neighborhood or store to test customer response under real-life conditions. One of the most common examples of this research method is the feedback form given to customers at the time of billing at a restaurant.

Surveys are also conducted in the form of web questionnaires these days that enable businesses to collect a lot of feedback and then analyze it for further administration.

There are two major observation techniques or research methods used in primary market research, and they are observation through interaction and communication with the subject and observation through no interaction and communication with the subject. This form of research method comes under the quantitative primary research since through it; researchers evaluate or measure the behavior of the respondents or the users in general.

This is more of a personal approach in comparison to surveys and questionnaires, etc. This method of primary research involves scientific tests where hypotheses and variables, etc. This is a quantitative type of market research which may either be controlled out in the field or within controlled environments. In order to understand this form of research, here is an example that you can refer to: A food product company created 3 different food packaging styles and then sold the products to different consumers.

After a limited period of time, it analyzed the sales and came to a conclusion about the preferred packaging style or design. One may think of an in-depth interview to be a quantitative approach to primary market research, but this method, in fact, is a qualitative research that takes into consideration the kinds of choices and preferences a customer base has.

Interviews, unlike focus groups, involve interaction between one moderator and one respondent and several types of modes and methods may be used to conduct them. Interviews may not always be restricted to a set pattern of questions but can also be in the form of a conversation with the target customer base or audience. This kind of a research method helps to dig further into what the customer wants, and the answers can later be analyzed to come to a conclusion for the final product delivery.

Secondary market research is mainly based on collecting information from different sources and then coming to a conclusion. The following are the two main types of Sources of Secondary market research data:. Internal sources include information that has already been collected by the company and proves useful for future projects, etc.

For most businesses, internal sources may prove enough to develop new products and services, and this may not require them to look outside. External sources are those sources that present data that is collected by other businesses or people. External sources can be wide and varied and hence one must follow a controlled approach to assessing them. E-mail is already registered on the site. Please use the Login form or enter another. You entered an incorrect username or password.

Great and in-depth post about marketing! Marketing is so key to being truly successful, and good marketing definitely starts with the proper research. I like your point on effective marketing research leads to encouraging communication.

So much of business is still about networking, word-of-mouth, and effectively communicating out to your audience. Doing the research like you have listed will definitely lead to finding that target audience and discovering new and better ways to communicate with them. Love this, now I understand the importance and different methods of market research in depth?

Very good, I'm doing an assignment and the information in this article is great Thank you for the information. This is really useful to understanding the different methods of market research.


Main Topics

Privacy Policy

Primary market research is the most common type of a market research method and is also the most valuable type. It is a method that only answers specific questions and not irrelevant issues. Secondary market r esearch.

Privacy FAQs

Groups of potential customers are brought together to discuss their feelings about a product or market. Focus groups are a good way of getting detailed information about customer tastes and preferences. Test marketing. This involves selling a new product in a small section of the market in order to assess customer reaction.

About Our Ads

The four types of primary market research | [ ] Week 1: Researching Research For Research | Ross Presland-Brown Games Development Says: December 15th, at am [ ] The four types of primary market research | Canadian Entrepreneur Training. Market research can be classified as either primary or secondary research. The difference is quite simple, yet there is often confusion around this topic. The difference is quite simple, yet there is often .

Cookie Info

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 . Once you have narrowed down your target group, you can do lower cost versions of primary market research, such as sending out surveys or questionnaires. Secondary research gives you a foundation to build on, while the primary research helps you identify specific needs.