Sources Of Marketing Research Data

The primary market research is to gather new information by conducting market research, interviews and surveys. This information we have collected through direct contact with the guests. This research differs per business. Our hotel can overview about the target markets through the surveys and interviews we have done.

Primary data is when you collect and gather the data first hand in the form of a questionnaire, survey, telephone or interview. This data is specific to the company and did not exist beforehand. Sometimes referred to as field research.

Secondary data using existing data, as related to new data that is being gathered or have been recently gathered. Information already exist on the topics that are being studied. In quantitative approaches, it is this knowledge that assists one with finding the hypothesis to be examined in the new research. It opens the door for the researcher to further explore and generate new questions for the study. This also allows the researcher to find gaps in the research process. Secondary data sources can be acquired via the

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.

Prior to conducting primary research, companies should first obtain secondary data from all available sources that pertain to the interests of the subject. Companies conducting secondary market research focus on collating sections of research

This data has been compiled by the sales department in order to attract future customers, therefore specific and primary data.

When starting to look at secondary data for my computer and software business, the first option would be to look at the Census Bureau to see the demographics of the area. I’d want to research the potential customer base in depth. Is there a part of town where there are people with an income bracket that would allow for more than one computer in the home? Typically, customers will make additional purchases of items, like computers, from the same store that they purchased the first one from, if they had a positive experience.

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.

PRIMARY RESEARCH (e.g questionnaires, surveys), SECONDARY RESEARCH (e.g Inside Business: sales records, stock records) (e.g Outside Business: gov stats, media)

This is existing research that has been gathered previously either by the firm itself or by other organisations. This type of research is collected quicker and cheaper as it has been already archived. Secondary data is normally found in internal and external sources.

M1: Explain, with examples, how different market research methods are appropriate to assist different marketing situations. Looking back at the market research methods that could be used to collect information, methods such as questionnaires/ survey, observation, focus groups, experimentation, internet, website monitoring etc. I am going to select 3 primary and 3 secondary methods of research from the ones I have written about. I have chosen 3 primary researches which are: •

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:

Secondary marketing research is based on information previously gathered by an individual, the government, and other agencies. “Secondary sources are those sources of information that have been collected previously by other individuals or organizations. Secondary sources of information can help you to identify other sources of information, it can help you to get an overall picture of your market or it may provide more detailed information on a specific segment of the market” (Karen Paiyo). There are also various research tools used when conducting secondary research. Secondary research can be acquired from previous reports, public sources, newspapers, magazines, commercials, educational sources, and websites. Secondary research is often easy to find and generally free. It is much more inexpensive than primary research. An example of secondary research is a general manager, of a professional baseball team, gathering a summation of statistical information (of a player whose contract is expiring) from previous

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