Primary Research

• What is the purpose of market research?

  To collect information about the market
• What are the two main types of market research?

  Primary and secondary research
• What is primary market research also known as?

  Field research
• What does primary research provide to a business?

  Customized research specific to its circumstances
• How can primary research be conducted?

  Through surveys, questionnaires, focus groups, or observations
• What is a survey?

  A method to ask questions for opinions
• What are the methods to conduct a survey?

  Online, paper-based, interviews, focus groups
• What is a questionnaire?

  A set of questions to find customer opinions
• What types of questions are included in a questionnaire?

  Open and closed questions
• What is an open question?

  A question that allows detailed responses
• Give an example of an open question.

  What do you think of our new latte?
• What is a closed question?

  A question that limits responses to specific options
• Give an example of a closed question.

  Do you like our new latte – yes or no?
• What is a focus group?

  A group interview for gathering opinions
• Why is the size of a focus group important?

  Too small may lack opinions; too big may limit contributions
• What do observations involve in market research?

  Watching customers to gauge reactions
• What is an advantage of primary research?

  It provides detailed information
• What is a disadvantage of primary research?

  It can be time-consuming and expensive
• What type of data can primary research gather?

  A mixture of quantitative and qualitative data
• What are the advantages and disadvantages of primary research?

  Advantages:

  • Specific to the business
  • Provides detailed information
  • Relevant and up to date
  • Can gather both quantitative and qualitative data

  
  

  Disadvantages:

  • Time-consuming
  • Expensive
  • Sometimes difficult to collect