• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Different types of primary and secondary market research

Extracts from this document...


´╗┐Unit 10 P1 Different types of primary and secondary research Market research is an essential part of any business plan, whether it is a fledgling business or a multinational organization. Knowing that there is a sustainable market for your product and understanding of what your audience expects from you is vital from a successful business launch. 1. Primary research is when the creation of your own research, whether it is a question you ask to your friends and family or a survey put together alongside, agency and managed to a wide panel. Primary research will instantly make you feel more in control of your project. You choose your questions and select your panel through qualitative research, allowing you detailed responses from an individual person. You decide how, when and where your research will be managerial. You can ensure that your research is focused: the number of participants and their backgrounds, the number of nature of the questions, the number of time that your survey is available. Types of primary research: Observation: watching how consumers behave provides many insights, but can leave questions unanswered. Observation works well in retail markets; sit outside a shop and watch how many people walk by, look at a window display etc. ...read more.


The review of literature in any research is based on secondary data. Mostly from books, journals and periodicals. Importance of Secondary Data: Secondary data can be less valid but its importance is still there. Sometimes it is difficult to find primary data; in these cases getting information from secondary sources is easier and possible. Sometimes primary data does not exist in such situation one has to restrain the research on secondary data. Sometimes primary data is present but the respondents are not willing to reveal it in such case too secondary data can do, so you can collect data from books or other published sources. Loyalty schemes Consumer loyalty is one of the most valued assets a retailer could have. With increased competition from challenging stores and brands, a massive range of product choice and differences, and the increase of internet trading and contrasting websites, loyalty barely exist in the modern selling environment. The investigation into loyalty schemes founds their effectiveness in living up to their name. Research has extended knowledge of previous authors, and examines what does and does not make a customer loyal, taking into account the effect of loyalty cards for both the customer and retailer. It goes to develop an understanding of the most effective way for retailers to turn a simple customer into a loyal customer. ...read more.


Primary data can be collected via clever use of online surveys and the internet contains many websites providing Secondary data. The internet can save companies valuable time and money by proving information at the click of a button. The important thing is to have an understanding of the type of information available and how to access it. The difference between qualitative and quantitative Quantitative research focuses on numbers or amounts. Measurable studies have results that are based on numeric analysis and statistics. Often, these studies have many participants. It is not unusual for there to be over a thousand people in a quantitative research study. It is ideal to have a large number of participants because this gives analysis more statistical power. Qualitative research studies are focused on differences in quality, rather than differences in quantity. Results are in words or pictures rather than numbers. Qualitative studies usually have fewer participants than quantitative studies because the depth of the data collection does not allow for large numbers of participants. Triangulation Triangulation is a way of assuring the validity of research results through the use of a variety of research methods and approaches. It is a means of overcoming the weaknesses and biases which can arise from the use of only one of the methods described, such as observation, questionnaires etc. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Clearly differentiate between e-commerce, e-business and e-marketing etc.

    systems - this includes enterprise resource planning, workflow systems, process control and enterprise information and knowledge portals Electronic commerce - this will be discussed in more detail later in the report. Strauss (Strauss, 2001) includes a more detailed break-down of e-business activities.

  2. Microsoft Market Research

    Quantitative Quantitative research provides numerical data. At the completion of a quantitative project it is possible to say (for example)

  1. Types of research - Market research is the collection of information or data to ...

    in which it operates * know what resources it has at its disposal Normally marketing plans/strategies will concentrate on certain prime targets. These will be: * to consolidate and /or increase market share * reacting to changes in the market * seeking ways of breaking into new markets or segments

  2. Business GCSE Unit 1, A1

    It sells goods, mainly chocolate and sweets. Some of the main chocolate products Cadbury sells are: * Dairy Milk Range * Wispa * Bourneville * Chomp * Fudge * Cadburys Hot Chocolate * Crunchie As well as chocolate, Cadbury also own Trident Chewing gum, The National Confectionary Group, Green and Blacks and Halls.

  1. The sphere of influence of the market is different to that of St. Albans.

    This shows that St. Albans isn't a main shopping centre and maybe doesn't have as big a sphere of influence as other shopping centres may do. Figure 6. tells me that people did travel quite far to shop in the market and probably travelled further than I had expected.

  2. Design a small scale marketing plan and formal report for a small business.

    Discounts- a good way to get people to notice the product is to stamp 10% off on the label. 3) Competitions- will produce motivation and hype for a product e.g. win a year's free supply of crisps by answering the following question.

  1. Questionnaire Effectiveness

    Also, some important business issues could not be covered in the questionnaire such as looking at what competition the business was faced with. Internet research or a first hand visit to the competitor outlets was needed instead to answer these types of questions and find out about potential competitors in

  2. Marketing plan

    The strategic alliances will be used to acquaint customers of the trendy clothes stores with Monaco as the customer demographics are quite similar. The alliances will include discounts when both shoes and clothing are purchased as well as display some of each company's products at the other store.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work