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Summary - 3.2.1 Market Research
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The document "3.2.1 Market Research" outlines two types of market research: primary and secondary. Primary research involves firsthand data collection for specific purposes, using methods like surveys, interviews, focus groups, and observations. It is specific and controlled but can be time-consumi...

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  • July 5, 2024
  • 2
  • 2023/2024
  • Summary

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3.2.1 Market Research
Primary research


- Field research – collected first hand for a specific purpose

Examples:

- Survey and questionnaires (postal, telephone, face to face, on line

- In depth interviews

- Focus groups

- Observations

Pros Cons
- Specific - Small sample
- Controlled - Poor sample = poor result
- Could be less bias - Time consuming – lots to analyse
- Could be more reliable - Expensive
- Vunerable to manipulation


Secondary research


- Desk research – collected by someone else for a different purpose

Examples:

- National and Local government Statistics e.g. ONS – Office for National Statistics

- Market Research organisations

- Professional bodies

- Trade unions

- International bodies

- Academic organisations

- Newspapers and magazines

- The internet

Pros Cons
- Quick and Easy - Out of date
- Good availability - Too vague/not specific
- More views/different perspective - Unreliable – who collected it
- Usually a bigger sample size - Not exclusive – competitors can access

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