Primary vs secondary research

Question 1

Primary research

Answer 1

questionnaires, interviews, surveys, test marketing

Test marketing; launch product in one region and measure response before full launch

Need to see what they think of a new product or advert
Good in a niche market

Expensive

No one else can access it

Question 2

Secondary research

Answer 2

Internal sources
- already exists in the business
- helps decisions but wasn’t collected for this purpose
- sales transactions, big data

External sources
- market reports, magazines, publications

Can hire independent researchers from a business such as Mintel (impartial and up to date)

Eval
- helps to get initial understanding of problem but then use primary research to investigate
- may not have the funds