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Market Research Techniques: Primary and Secondary Market Research

The Advantages of Primary Market Research

❶Primary Market Research Primary market research is how your business gets ahead.

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Research Optimus actively solicits customer feedback that will help clients to assess customer satisfaction with specific products or with customer service. We use sources such as surveys, websites and social media channels. ROP facilitates validating product ideas at different time frames during the development cycle.

We use quantitative and qualitative feedback to identify criteria such as most-wanted product features. Research Optimus tests marketing concepts in real-life conditions. We use both online and offline test markets that simulate actual buying decisions without buyer awareness that the exercise is only for evaluation purposes.

ROP can provide comprehensive project management of all primary research activities. This can include steps such as survey design, target audience profiles, data collection, data processing, data analysis, preparing reports, and creating presentations.

Research Optimus analyzes survey results with regression analysis and other statistical methods. We prepare reports and presentations that discuss research findings with supporting graphs and images.

Research Optimus has a new add-on primary research service that enables you to get the detailed analysis reports in an infographics-based presentation.

We have an in-house creative team that works alongside the data scientists to visualize the research data in an easily consumable self-explanatory presentation for even the non-statistical business executives.

When organizations of all sizes are examining their options for obtaining primary market research, here are nine of the primary benefits to be realized by selecting Research Optimus as your research provider:.

The need to obtain high-quality, unbiased and cost-effective primary market research is an increasingly challenging task for businesses and government organizations throughout the world. Research Optimus provides a practical way to outsource your primary market research needs to an expert global provider. Flexible hourly pricing methodology for one-time research needs, and dedicated full-time equivalent resource allocation for on-going projects.

Customer information and project confidentiality secured by Non-disclosure Agreements and project data by workstation security policies. Research Optimus responds to business enquiries only, and we do not make unsolicited or automated calls. If you receive such calls please submit your complaint to https: Media Monitoring Social Media Monitoring. Research Optimus gathers and delivers valuable information that would be difficult if not impossible to obtain via other methods such as secondary research.

Provides unbiased information by performing first-class primary research and validating third party data. Obtains consumer data directly from your actual buyers and potential customers, enabling you to match customer needs with your product and service portfolio. Enables you to tap into social media trends by monitoring younger customer and socially active segments with up-to-date research technologies.

Assesses competitors from every conceivable angle so that you are in a better position to maintain a competitive edge. Facilitates cost-effective and fast turnarounds for primary market research services by acting as a global outsourcing provider. Offers a collection of diverse primary market research services that can be customized and adapted to work for budgets of all sizes.

Has a fully staffed team of primary market research experts with advanced academic credentials that are available when you need their help. Research Optimus supplies high-quality primary market research services that meet and exceed industry best practices. Quality Systems ISO In all of these situations, market research can help you make better decisions and improve your chances of success. There are two types of market research: Secondary research is based on information from studies previously performed by government agencies, chambers of commerce, trade associations, and other organizations.

Census Bureau information and Nielsen ratings are secondary market research. Secondary market research is easy to find, and much of it is free or low-cost. For instance, you can find secondary market research online at government or industry websites, at your local library, on business websites, and in magazines and newspapers.

The downside of secondary market research is that it is not customized to your needs, so it may not be as useful as primary market research. For example, secondary research will tell you how much money U. Focus groups, surveys, field tests, interviews, and observation are examples of primary market research. Primary market research lets you investigate an issue of specific interest to your business, get feedback about your website, assess demand for a proposed service, gauge response to various packaging options, find out how much consumers will pay for a new product, and more.

In addition, primary research is usually based on statistical methodologies that involve sampling as little as 1 percent of a target market. This tiny sample can give an accurate representation of a particular market.

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When conducting primary market research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents.

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Primary Market Research Primary research is research that is conducted by you, or someone you pay to do original research on your behalf. In the case of primary .

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Primary market research tends to take the raw data such as information collected through focus groups or surveys, and interpret the data for a variety of business purposes. Conversely, secondary market research relies on information previously gathered. Primary market research is tailored to a company’s particular needs and is conducted either by you or by a company that you pay to conduct the research for you. Focus groups, surveys, field tests, interviews, and observation are examples of .

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Primary research gives you a lot of specific results. For example, a focus group would be asked specific questions (that you help design) so . Primary market research services from survey design and sampling to data collection, analysis & presentation using qualitative & quantitative research.