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Primary vs. Secondary Marketing Research: Which to Use, and When
Within marketing, primary research instruments can be designed to meet a company's unique, specific, or time-sensitive needs. Examples of primary research include surveys; interviews; and focus groups. Using primary research allows a company to gather information on a target market, e.g., what a focus group of "target market" participants thinks about a product or service before its actual introduction. Through using a survey as a primary research tool, a company can elicit feedback on products, services, and/or ways of changing or improving products. Focus groups; surveys, and interviews also help companies gather information on public receptivity to a new item or service. Prices prospective consumers might pay for future goods or services may also be researched using any (or all) of these types of primary research.
Secondary research, on the other hand, consists of locating and analyzing, previous studies or documents that could be germane to one's own business needs. Government studies; articles from business, marketing, management or trade journals; web sites; trade association or organizational newsletters, Chamber of Commerce or Census Bureau studies, and newspaper and magazine articles are secondary research materials. Secondary research is most useful for investigating new markets; or for increasing or expanding current ones. Secondary research is also potentially useful for investigating financial, demographic, or other issues that affect or might affect one's business. Secondary research materials are available in public; university, or professional libraries; online (as websites, articles, links, or other resources); or in newspapers, magazines, and trade, academic, and professional journals. Secondary research is less costly than primary research, which one must generally tailor to one's own purposes. However, secondary research is, obviously, not geared toward one's own company's needs, questions, or concerns. It is also usually not as timely as one's own primary "custom-designed" research. Therefore secondary research may not be as valuable in analyzing atypical or unique issues, or for addressing the most recent company concerns.
Marketing Research 6855 The purpose of this paper is to apply the principles of Marketing Research process by conducting secondary research for a real life organization and proposing primary research which can be done in the light of secondary research. The first section of the paper presents an analysis of Starbucks using SWOT, 5Cs Analysis, and five forces model. The second section proposes primary research to solve a specific marketing problem. Situation
Marketing Research Explain the difference between marketing research and a DSS. Marketing research may provide data for use in a DSS as input, but the knowledge component is an aspect of the human expert participation in the gathering and analysis of data. Indeed, some computer modeling platforms (such as Bayesian Belief Networks) employs a combination of data, modeling software, and the judgment of experts to make decisions about, for instance, a product
((Meel and Romans, 2010) The present database marketing plan will examine the database and discover the following: (1) what information is in a customer file? (2) What internal information exists that can be linked to a customer file? (3) Is the information up-to-date? (4) What information exists externally? III. Market Research Plan Implementation Customer surveys will be developed and mailed as well as emailed to customers and will ask questions concerning the
As many of these types of foods are purchased for special occasions, there is also the need for measuring just how many events that typically occur in the projected customer bases' lives during any given year to further estimate market size. Not only does the number of cakes and desserts need to be forecasted, but the flavors and type of cakes and pastries as well. In short, primary research
Cigarettes became popular among World War soldiers as "soldier's smoke (Randall 1999)." Camel held 45% of the U.S. cigarette market by 1923 while Philip Morris produced women's cigarette, described as "mild as May." The American Tobacco Company produced Lucky Strike for women and captured 38% of the market. The number of female teenage smokers increased three times between 1925 and 1935 alone. In the spirit of competition, the American Tobacco
Marketing Research on Athletic Shoe- Industry The brand caters a promise of reliability, in effect that one stand behind their product. Branding is not an action we can realize overnight. A successful brand is built over time from the hundreds of little things we do right. . The brand is, at its core, an declaration of a standard performance. It guarantees that the product or service carrying that brand will live