Primary and Secondary Marketing Research Essay

Secondary data is information that has already been found and this form of data can be accessed from journals, books, magazines and social media. This data is normally the first form of data that is accessed when the services are conducting research as this data is easily accessible. This data can be used by the public services to try and better their service from learning from previous mistakes that has been published in the data they have found.

Primary data is data which your business or you find and gather data to analyse. By you or the business finding the data this makes it primary because the data belongs to you making it original. The different ways to gather data is surveys and interviews by collecting data like this makes it original and reliable.

The majority of UDT’s market research will be done with secondary data, and a suggestion of using a primary data source to help define more of UDT’s market.

It has to be mix of both primary and secondary. Primary research is to be done to know the customer perception about the image of the company and the nature of market competition. Various trade journals, industry reports should also be referred as secondary source.

Thirdly the Business would need to collect Secondary and primary Data is data. Primary Data is a Data that is gathered by the researcher himself/herself. Secondary Data is data that is collected by someone else for another purpose.

In the article ‘Data Collection: Primary Research Methods’, Christ (2009) wrote that, the responsibility for collecting data under primary research falls to the marketer. Marketers can select two basic approaches to collect data using primary methods:

Every organization will benefit from even the most elementary market research. The information will provide new information, and will confirm what is known.

Secondary Research: The goal of secondary research is to analyze data that has already been published. With secondary data, you can identify competitors, establish benchmarks and identify target segments. Your segments are the people who fall into your targeted demographic--people who live a certain lifestyle, exhibit particular behavioural patterns or fall into a predetermined age group.

The types of data that could be used in relation to the planned market research e.g. quantitative and/or qualitative and primary and/or secondary

secondary data has advantages because they are easy to access and its cheaper, it is not time consuming comparing to primary data, secondary data are data collected by a party not related in the research process, but they are collected randomly for some other purposes for the company, maybe in the past or for the coming future, this becomes a secondary data only when it is used to analyses or to find something currently. Secondary can give a hint on how to begin the initial research to help the researcher understand better on what’s going on. They may be available in written, typed or electronic forms. Secondary data can be collected internally, or externally, external data are collected from outside sources to refer and analyze. Than a luxury, HVAC systems are more

Chapter 1 Marketing Creating and Capturing Customer Value 1) According to the five-step model of the marketing process, the first step in marketing is ________. A) capturing value from customers to create profits and customer equity B) constructing an integrated marketing program that delivers superior value C) building profitable relationships and creating customer delight D) understanding the marketplace and customer needs and wants E) designing a customer-driven marketing strategy Answer D Difficulty Moderate Chapter LO 1 Course LO Discuss the fundamental concepts of marketing 2) ________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges Answer A Difficulty Easy Chapter LO 2 Course

Despite the benefits of primary research, secondary research is a viable solution for companies with limited resources. Secondary data may often save company significant time and money. Primary research may be addressed once research has been collected after gaining insight from data collected from secondary research. It is beneficial to gather information that already exists from data like statistics, reports etc. Secondary data may be collected from data bases, industry and trade journals, as well as from on-line sources. A company may obtain sales, profits, and other information from government released

Secondary market research is market research that’s already gathered and prepared for you. Secondary research also known as desk research is when an organisation identifies suitable sources and getting access to them; reviewing and accessing their suitability for their specific research objectives (Mcgivern 2013). There are many benefits and drawbacks of using secondary market research for an organisation.

Secondary data can be found inside a company, in sales records in particular. When used for marketing research, such data probably need reorganizing. For example, sales of a particular product will often be listed customer by customer, whereas the research might call for a geographical breakdown. Alternatively, many external sources of secondary data are available, in government departments, trade associations, professional bodies, the press, specialist research agencies and many other sources. The increasing availability, power and flexibility of computers makes it increasingly easy for this information to be made immediately available to decision makers. An increasing range of databases can now be accessed on-line.

All the information provided in this report involves secondary market research method, which was acquired from the internet, academic journals and books.