Primary Market Research Methods Flashcards
1
Q
What is the purpose of Primary Market Research?
A
To learn about your target markets wants and needs to provide a better service/product to sell
2
Q
What are the several Primary Research Methods?
A
Consumer trials
Observation
Surveys
Test marketing
Interviews
Focus groups
Questionnaires
3
Q
What is Primary Research also known as?
A
Field Research (first-hand data, not done before)
4
Q
What are the overall advantages of Primary Research Methods?
A
- Customised data, provides
specific information to the
business - Full control to handle
- A better understanding of competitors
5
Q
What are the overall disadvantages of Primary Market Research?
A
- Time consuming
- Not always accurate information
- Can be costly
- Potential risk of biased results
- Specialist skills
6
Q
What is Primary Research?
A
Gathering data that has not been collected before, first hand
