Primary and Secondary Marketing Research Essay

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Primary and Secondary Marketing Research When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.
Primary Marketing Research, benefits to the organization, and examples What is primary marketing research? Primary marketing research is a study conducted
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They can also measure this through sending out a survey to customers who did not accept the organizations quote. Survey questions can include reasons for the quote being rejected, such as cost, quote turnaround time, and delivery lead time. One of the major advantages of primary data is that it can be “more specific to the problem being studied” (Kerin, R.A., Hartley, S.W., Berkowitz, E.N., and Rudelius, W., 2006) and one of the main disadvantages is the cost associated and time associated with collection. So what is the difference between primary and secondary research?
Secondary Marketing Research, benefits to the organization, and examples Secondary market research can be gathered from either internal or external data. Internal secondary data includes items like defect reports, historical performance measures, and sales data. External secondary data are items that are collected outside of the organization. This includes data such as industrial sales numbers and averages (Kerin, R.A., Hartley, S.W., Berkowitz, E.N., and Rudelius, W., 2006). Many organizations use this form of external data to benchmark their position in relationship to others within their industry. They can also use external secondary data to calculate percentages and ratios for comparison purposes. In the earlier example within primary marketing research, the organization was able to use primary marketing data collection to rate how the organization was
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