Marketing

5 Pages 1260 Words

PRIMARY AND SECONDARY MARKETING RESEARCH

How Can My Organization Benefit

Abstract

When conducting market research some questions are not adequately answered by secondary data, the market researcher must collect primary data. The success of a survey hinges most significantly on the willingness of respondents to provide the desired information. In this paper, we shall cover primary and secondary marketing research and how it would benefit my corporation.

PRIMARY MARKET RESEARCH

Why bother with market research? Anyone who's ever worked through a business plan knows the answer to this one. Trying to start a business without researching your potential market is as sensible as setting out for the North pole with a surfboard. Market research isn't just something you do when you're working on your business plan and then shelve. It needs to be an integral, ongoing part of your business' development.
It's crucial to analyze your market and target your clientele before you waste your money on advertising that won't get you the results you want. Market research is also critical before you spend time and money developing a new product or service. There are a number of business people who just seem to do whatever they feel like doing. For many business managers, market research is a concept as abstract as that of peace, liberty or the pursuit of happiness. For some, market research is a fanciful activity that often requires a rich budget. For others, its application or usefulness is unclear.
Since market research can mean different things to different people, it is worthwhile to discuss the basics first. Then, its power and applications can be better understood. The following sections will define market research, give an overview of the different types of research, and conclude with a scenario that puts research to work - using research to identify a business opportunity





Why Research?
Market research enables busines...