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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 whos 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 isnt just something you do when youre working on your business plan and then shelve It needs to be an integral ongoing part of your business development Its crucial to analyze your market and target your clientele before you waste your money on advertising that wont 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 business
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