what is primary market research example

Primary Market Research: Guide & Examples

Primary market research gives you the direct feedback you need, from those who matter most to your business.

By knowing what makes people tick, and what ticks them off – you can tailor your positioning, messaging, and approach.

Ready to find out more about the what, why, when, and how to do primary market research right?

Then let’s begin:

What is primary market research?

Primary market research is direct, first-hand data collection by an individual or organization. The most popular form of primary research is market research surveys .  But, other primary research methods like focus groups, interviews, and observational research deliver vital insights that can shape and determine critical strategies for efficient growth.

Why is primary market research important?

Primary market research helps organizations:

• Predict future trends
• Understand industry challenges
• Optimize offerings
• Create impactful messaging
• Answer specific questions that shape strategies, marketing, products, operations, and more.

Pros and cons of primary market research

As with all types of market research , there are pros and cons to consider before choosing which route is best.

👀 Let’s take a look at them now.

Benefits of primary market research

• Control With primary market research, you control how you collect data and how it will be used.
• Relevance As data is collected first-hand, you can ensure the questions are relevant to your area of interest.
• Ownership The data belongs to you, and it’s information your rivals won’t be able to access.
• Deep insights By listening to the thoughts and opinions of an audience, you obtain a depth of insight that no other form of research alone can uncover.
• Accuracy and timeliness You have confidence that responses are relevant to the present-day consumer and market conditions.

Disadvantages of primary market research

Primary market research does have some limitations. Here are three to consider.

• Cost Most types of primary market research cost more than secondary research methods. From the design and set-up to collating results ready for analysis, it all comes at a cost.
• Time Primary market research takes longer to plan, do, and review than secondary research . If a large sample size is required, this adds to the time needed.
• Bias In some situations, an individual might be biased based on previous experience. Or, they might not fully understand the questions being asked. This can happen a lot with surveys, so consideration should to be given to inaccuracies.

11 Ways to do Primary Research

Knowing which type of primary research is right for you will depend on the problem you’re trying to solve and the questions you want to answer.

Here are 11 of the most popular primary market research methods being used today.

Telephone Interviews

These are useful with customers or prospects, and they’re also fairly easy to arrange and conduct. When creating interview questions, ask open-ended questions to get unrestricted answers.

In-depth Interviews (IDIs)

These are focused interviews with people of strategic importance, and follow a structured or unstructured format. You can either follow a specific set of questions or conduct a free-flowing interview that allows for greater flexibility. An IDI usually lasts for between 20-30 minutes.

Pro Tip: Beware of bias

Ethnographic research

This focuses on following individuals, one at a time. A trained observer will immerse themselves in an environment (think a store or home), and observe how people behave and interact with the things around them. Brand marketers, product developers, and designers then benefit from seeing and understanding these interactions. It requires more time and money compared to other methods.

• Observational research

Observational research is often favored by smaller businesses and startups and monitors numerous people in a single location. Here, one person gathers insights from a large group in a single session or day, making it cost-efficient. The researcher focuses on how people stop outside a store, if there are specific things they seem drawn to in a display, and the direction they take when heading inside.

Minimum Viable Testing (MVP) testing

Involves testing a product or new feature before it’s taken to market. The goal is to gauge a market’s reaction and gain feedback to improve or adapt future features. There are two ways to do this.

• Prototyping – where you create numerous product variants that a smaller group of people evaluate to determine which would best meet their needs.
• Post-product launch – this is designed to measure the general reaction of a target audience and helps organizations know which direction is best to move in.

Product/Field trials

Doing trials is a great way to get feedback about the product or their experiences. This can be particularly useful for product development and marketing. In field trials, variables and hypotheses can be tested in a controlled environment or in the field.

Although lots of companies use free trials as a conversion path, it’s also an incredibly valuable way to get feedback from users about the things they like or dislike, as well as potential features they’d like to see in the future.

• Hypothesis testing

Used with existing products through either multivariate or A/B testing . This type of research can help with things like pricing evaluation across different audiences or markets. It can also look into web page specifics, conversion effectiveness, and more. By taking an experimental approach, it helps organizations establish optimal strategies for product, pricing, positioning, and core messaging.

In a primary market research context, Market research surveys capture numerical data for a relatively low cost. Online surveys are quick to set up and easily sent to both existing and prospective customers. When used in primary market research, it’s important to get the length just right. Go too long; boredom creeps in they’ll give up. Too short, and you risk not getting enough viable data for a complete picture.

Pro Tip: If you’re targeting an important group of people with a survey, consider an incentive.

Why? The National Center for Biotechnology Information ( NCBI ) conducted almost 50 separate studies on the topic; their findings confirmed that monetary incentives doubled the number of completed responses. From charitable donations and gift cards to PayPal credits, people are more likely to complete surveys when there’s something in it for them.

• Intercept surveys

If you’ve ever spotted a tablet asking you to rate the service or experience you had in a store/facility; then you’ve experienced intercept surveys at work!

One of the biggest advantages of intercept surveys is they target all visitors. Unlike traditional survey formats that require an email address, this style of survey can reach all demographics, and give you instant feedback. What’s more, they’re easy to organize and analyze.

• Online focus groups

These days, most organizations tend to favor online focus groups. Organizing and expending is far easier as there’s no need to factor in travel, venue hire, and sustenance costs. It’s also far easier to get people to commit to a quick video focus group compared to in-person set-ups.

• In-person focus groups

Physical focus groups are still strong, and people prefer them for many reasons. Body language is far easier to interpret when people are in the same location, and there’s the added benefit of stronger in-group dynamics too. So, while they cost more, take a little longer to organize, and you have the added burden of knowing whether or not participants will show up, there are still plenty of reasons to use them. Convenience isn’t always king.

The difference between primary and secondary research

3 primary market research examples

There are many methods of primary market research at a company’s disposal. Finding the right type for your research goal, budget, and time considerations is key to unlocking success. Here are three examples of primary market research in action, to give you a touch of inspiration.

1. Ethnographic research

I spoke directly with Umair Syed of Bizitron, he explained how his digital market agency favors ethnographic research for uncovering key consumer insights for big brands.

2. Customer satisfaction survey – low-cost example of primary research

This is a great primary market research example in action using an online survey format. Customers are asked if they’d like a receipt emailed: if they do, they receive a survey after their visit. Key questions provide the organization with clear ratings around their experience. Open-text boxes are also used to gather specifics if a score is particularly good or bad.

3. Focus groups & interviews

Another widely used primary market research method is the interview. Here’s a sample of some of the focus group questions we use at Similarweb. The biggest advantage of using this format is that any audience can be reached and interviewed remotely. Costs are low, and you can reach a wide and varying audience with granular feedback.

While it takes time to conduct this type of primary market research, it gives organizations the ability to pick and choose who they want to speak with and opens up the floor to ask them very specific, open-ended questions that have the power to deliver insights you might not be able to get from other primary research methods.

Primary market research questions

If you run a trial or release an MVP, you can use a survey for primary market research questions like these:

• What was your most favorite feature of the product?
• If you could improve one thing about the product, what would it be and why?
• How much money would you pay for this product?
• How frequently did you use the product during the trial?
• Did you use the product during the morning, afternoon, or evening most?
• Would you recommend this product? If yes or no, why?
• Did anything occur during the trial that would prevent you from using the product in the future?

If you want to conduct an interview, here are some examples of the typical types of primary research questions you might ask.

• Can you tell me your role?
• What are your responsibilities? What are your main challenges?
• Do you have KPIs? If so, what are they?
• Who do you report to?
• How often do you use our product?
• In which context? What are you trying to achieve?
• How do you perceive our product as a tool for market research ?
• Do others in your team use this product? For what reasons? What is the structure of your team?
• What other tools do you use to perform your job? Why?
• Can you explain your main challenges with this product?
• What are the features you use most often? Why?
• Which features do you use least often? Why?
• What would make your workflow easier?
• Is there anything else on your wishlist?

How to do primary market research

• Determine what the subject or aim of the research is.
• Use secondary research first to validate the subject.
• Set out a clear problem statement or research question to be answered.
• Set objectives, and decide what you’d like to achieve.
• Outline timeframes and set relevant deadlines.
• Pick the right primary market research methods to help you get the information you need.
• Decide on your sample size – large or small.
• Consider whether you’ll use qualitative or quantitative research (a little of both is best practice).
• Outline the structure for your plan, then review it to validate if it supports your research question. Consider, whether it will give you the information needed to make decisions about the next steps.
• Test to ensure it works and delivers the right type of insights.
• Collate and analyze the results.

Discover a better way to get similar results in less time

Similarweb Digital Research Intelligence gives you instant access to data that shows you things like audience insights , search interests, overlap , loyalty , and demographics .

Let’s say you’re planning to expand into a new category, and want to research the market to capture a new audience or understand consumer demand before you spend time and resources on product development.

For example, launching a new urban e-bike service. You’ll want to reach a new audience but the problem is you don’t know what their interests are and how to approach them.

You’ll want to find out:

• Who is your target audience?
• How are your competitors approaching them?
• Which channels work best for your audience?
• When is the right time to engage with them?

Step 1: Identify the audience and categorize based on search interests

The first step is to identify the ideal customer profile of your target audience that you want to capture, so this could be various attributes. For the e-bike example, you’ll want to be engaging with people who are fit to cycle or have a need. For instance, they commute to work by bike or enjoy cycling as a hobby outside of work.

• Fit to cycle
• Need to cycle (i.e., cycle to work)
• Like to cycle (outdoors lovers)
• Are interested in a healthy lifestyle (eat well, lose weight, exercise, work-life balance)

Other criteria could be around lifestyle i.e., they want to live a balanced and healthy life. You can identify your audience through different ways, such as what they search for online or what they post on social media. For this example, we’ll dive into the healthy lifestyle audience cohort and build a profile around the search term “healthy snacks”.

Using search terms such as ‘healthy snacks’ you can build a list of keywords. And group these keywords to essentially build a profile of your audience.

With this list, you can identify the types of sites that engage with your target audience, and establish the total addressable market based on search volume and trends over time.

Here we can see the volume of searches for healthy snacks has a monthly average of 77,000 in the UK, along with the key players who capture traffic from this search term.

Step 2: Qualify your audience

The next step is to identify sites and mobile apps targeting your audience i.e., people searching for “healthy snack” and find sites based on relevant criteria such as age, gender, or type of site. Then you can expand your list by identifying other sites visited by the same audience and discover which of your competitors (in this case, similar cycle makers) are working with them.

Here you can qualify the audience based on the sites that also target the “healthy snack” consumers, for example, Women’s Health, and dive into the demographics of that publication to see the gender split and age distribution.

You can also expand this list by looking at Women’s Health readers and seeing which similar sites they cross-browse to build a richer view of their online media consumption and habits.

You can also further deepen your knowledge of each publication that attracts the “healthy snack” audience and see how your competitors, in this case, other cycle makers, work with the publication.

Either by identifying other sports and fitness sites that send traffic to Women’s Health or a list of advertisers that typically promote their products.

Step 3: Monitor your audience to track ongoing changes

The final step is to build a dashboard with key metrics that include all the main audience profiles such as search interests, demographics, other visited sites partners, and advertisers so you can monitor trends and changes over time.

This can be repeated for each audience cohort you create, so you can build a holistic overview of audience behavior online and discover consumer demand within minutes, not weeks or months.

Wrapping up… Primary market research takes time. Once you’ve done the initial planning, coordination, and data collection, only then can you start to collate and analyze your findings. In some cases, it’s exactly what you need to power up your growth. On the other hand, you may need to work faster than primary market research permits. Whether it be to stay ahead of your rivals, keep up with shifting markets, or a change in consumer behavior.

If you need to quickly see what’s happening, Similarweb Digital Research Intelligence is the best tool for the job.

Take it for a trial run (for free) today.

Stop Guessing, Start Analyzing

Get actionable insights for market research here

What is primary market research used for? Primary market research helps organizations obtain direct feedback from a market that’s relevant, up to date, and usually focused on a specific theme or subject. It’s more controlled compared to secondary research and delivers more objective findings.

What is the difference between primary market research and secondary market research? Primary market research is the first-hand collection of data, that’s later analyzed and used to inform strategic decisions. The purpose of secondary research is largely the same, but this type of research takes pre-existing information, which costs less and is usually quicker to obtain.

What are primary market research examples? The most popular primary market research methods include:

• Telephone interviews
• In-depth interviews
• Ethnographical research
• MVP testing
• Product and field trials
• Online surveys

What technology is used in primary market research? Modern primary market research involves using artificial intelligence, machine learning, and data analysis tools to collect and analyze data more quickly and accurately than ever. Automated survey tools and virtual reality simulations may also be employed.

How can Similarweb help with primary market research? Similarweb can provide helpful insights into primary market research. It can provide data on website traffic , user engagement metrics , and competitors’ performance . This data can be used to make more informed decisions about product development and marketing strategies. In addition, Similarweb can provide market insights and help identify potential target audiences.

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What you need to know about primary market research

Last updated

3 April 2024

Reviewed by

Cathy Heath

Market analysis template

Save time, highlight crucial insights, and drive strategic decision-making

• What is primary market research?

Focus groups

Primary market research not only allows you to work out how to sell your product or service more effectively but also helps you see the types of consumers that are not your target market.

It can be qualitative or quantitative data , or a combination of both to help your business gain insight into the market.

These valuable marketing insights will save you time and money and enable you to use your resources much more effectively.

• Why use primary market research?

While secondary research can give you a more generalized look at overall trends and markets, primary research focuses on a specific, customized aspect.

Secondary market research may be easier and faster, but primary research is more tailored, and you get data ownership of the results.

• Primary vs. secondary market research: what's the difference?

Secondary market research has already been gathered and can be used where relevant. Reports and surveys by other businesses or government agencies are a form of secondary market research.

Primary market research is carried out by you with your customers or clients, so it is more focused on your direct business. It may take longer and cost more than secondary research, but it is more targeted.

Secondary market research is more general and may not focus solely on things that affect your business and goals.

• Primary market research: research approaches

There are five main primary market research approaches:

Observational research

Survey research, experimental research.

Observational research is used to watch customers in their natural setting and is used extensively in marketing. There is little control over the components of the research; the aim is to observe the interaction between the consumer and the product or service.

There are two forms of observational research:

Strict observation: the researcher can only watch the consumer and make notes. This is one of the best ways to get raw data without any outside interference.

Slight interaction: the researcher may interact with the customer but not influence or sway the research in any way

Surveys extract data from existing customers or potential customers who have consented to receive marketing material and given their contact information. You can gather feedback , explore customer experience of your service or product, and analyze business hypotheses.

Decide on the target market to give the survey to; the more survey respondents, the more reliable the result.

Surveys are good for getting quantitative data such as:

Household income

Purchasing patterns

Price research

These surveys can be in person or via phone, email, or online questionnaire . Alternatively, you could use the "old-school" method of sending out a direct mail form.

Experimental research, also known as field research , is a quantitative approach to getting consumer information. Experiments are performed in an uncontrolled setting to test certain variables and answer questions on how consumers use your product or service and what their buying habits are.

While conducting these experiments, you can talk with people in the natural retail setting to see their true-to-life interaction with the product or service.

Experimental research provides accurate data without moderation and can give you insight into the product or service, levels of customer satisfaction , and your business and brand in general.

Interviews are more like a one-to-one focus group scenario in which you question one person instead of a group. Structured but open-ended questions are used so you can discover preferences and behavior as well as consumer experience with your product or service. 

Interviews are ideal when testing a soft or new launch or to get customer perceptions of your marketing campaign.

These interviews get high response rates which are more truthful than other methods, as there is no peer pressure or influence from a group setting. Follow-up questions can help refine the data further.

Focus groups are great for discovering a specific demographic's opinions. They are best suited to collecting qualitative research.

This research method allows businesses to obtain data and analyze it from a specific market segment, with in-depth answers. This is helpful for decision-making and fine-tuning a product or service.

Many companies use focus groups to play through "what if" scenarios before implementing them in real life or for A/B testing on marketing material.

• When to use primary vs. secondary market research

The decision of whether to use primary or secondary market research is up to each business. Primary research is mainly done when the business needs recent data for a specific context. They want to look at a particular research aspect.

Secondary research is chosen when existing data can be insightful without the need for customized data or specifics. It can be gathered for the core of research projects .

What are the four types of secondary market research?

The four main types of secondary market research are:

Government or organizational agencies

Commercial and trade reports

Market research intelligence tools

Competitor websites

These all are sources of existing data about target groups that may benefit your business.

Why are interviews used in market research?

A form of primary research, interviews allow direct feedback from customers and clients to help inform a business about its consumers’ needs.

The researcher can use client responses from interviews to come up with more customized questions. They can extract more research information and more comprehensive answers than from other research methods.

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• Primary Research | Definition, Types, & Examples

Primary Research | Definition, Types, & Examples

Published on January 14, 2023 by Tegan George . Revised on January 12, 2024.

Primary research is a research method that relies on direct data collection , rather than relying on data that’s already been collected by someone else. In other words, primary research is any type of research that you undertake yourself, firsthand, while using data that has already been collected is called secondary research .

Primary research is often used in qualitative research , particularly in survey methodology, questionnaires, focus groups, and various types of interviews . While quantitative primary research does exist, it’s not as common.

Table of contents

When to use primary research, types of primary research, examples of primary research, advantages and disadvantages of primary research, other interesting articles, frequently asked questions.

Primary research is any research that you conduct yourself. It can be as simple as a 2-question survey, or as in-depth as a years-long longitudinal study . The only key is that data must be collected firsthand by you.

Primary research is often used to supplement or strengthen existing secondary research. It is usually exploratory in nature, concerned with examining a research question where no preexisting knowledge exists. It is also sometimes called original research for this reason.

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Primary research can take many forms, but the most common types are:

• Surveys and questionnaires
• Observational studies
• Interviews and focus groups

Surveys and questionnaires collect information about a group of people by asking them questions and analyzing the results. They are a solid choice if your research topic seeks to investigate something about the characteristics, preferences, opinions, or beliefs of a group of people.

Surveys and questionnaires can take place online, in person, or through the mail. It is best to have a combination of open-ended and closed-ended questions, and how the questions are phrased matters. Be sure to avoid leading questions, and ask any related questions in groups, starting with the most basic ones first.

Observational studies are an easy and popular way to answer a research question based purely on what you, the researcher, observes. If there are practical or ethical concerns that prevent you from conducting a traditional experiment , observational studies are often a good stopgap.

There are three types of observational studies: cross-sectional studies , cohort studies, and case-control studies. If you decide to conduct observational research, you can choose the one that’s best for you. All three are quite straightforward and easy to design—just beware of confounding variables and observer bias creeping into your analysis.

Similarly to surveys and questionnaires, interviews and focus groups also rely on asking questions to collect information about a group of people. However, how this is done is slightly different. Instead of sending your questions out into the world, interviews and focus groups involve two or more people—one of whom is you, the interviewer, who asks the questions.

There are 3 main types of interviews:

• Structured interviews ask predetermined questions in a predetermined order.
• Unstructured interviews are more flexible and free-flowing, proceeding based on the interviewee’s previous answers.
• Semi-structured interviews fall in between, asking a mix of predetermined questions and off-the-cuff questions.

While interviews are a rich source of information, they can also be deceptively challenging to do well. Be careful of interviewer bias creeping into your process. This is best mitigated by avoiding double-barreled questions and paying close attention to your tone and delivery while asking questions.

Alternatively, a focus group is a group interview, led by a moderator. Focus groups can provide more nuanced interactions than individual interviews, but their small sample size means that external validity is low.

Primary research can often be quite simple to pursue yourself. Here are a few examples of different research methods you can use to explore different topics.

Primary research is a great choice for many research projects, but it has distinct advantages and disadvantages.

Advantages of primary research

Advantages include:

• The ability to conduct really tailored, thorough research, down to the “nitty-gritty” of your topic . You decide what you want to study or observe and how to go about doing that.
• You maintain control over the quality of the data collected, and can ensure firsthand that it is objective, reliable , and valid .
• The ensuing results are yours, for you to disseminate as you see fit. You maintain proprietary control over what you find out, allowing you to share your findings with like-minded individuals or those conducting related research that interests you for replication or discussion purposes.

Disadvantages of primary research

Disadvantages include:

• In order to be done well, primary research can be very expensive and time consuming. If you are constrained in terms of time or funding, it can be very difficult to conduct your own high-quality primary research.
• Primary research is often insufficient as a standalone research method, requiring secondary research to bolster it.
• Primary research can be prone to various types of research bias . Bias can manifest on the part of the researcher as observer bias , Pygmalion effect , or demand characteristics . It can occur on the part of participants as a Hawthorne effect or social desirability bias .

If you want to know more about statistics , methodology , or research bias , make sure to check out some of our other articles with explanations and examples.

• Chi square goodness of fit test
• Degrees of freedom
• Null hypothesis
• Discourse analysis
• Control groups
• Mixed methods research
• Non-probability sampling
• Quantitative research
• Inclusion and exclusion criteria

Research bias

• Rosenthal effect
• Implicit bias
• Cognitive bias
• Selection bias
• Negativity bias
• Status quo bias

The 3 main types of primary research are:

Exploratory research aims to explore the main aspects of an under-researched problem, while explanatory research aims to explain the causes and consequences of a well-defined problem.

There are several methods you can use to decrease the impact of confounding variables on your research: restriction, matching, statistical control and randomization.

In restriction , you restrict your sample by only including certain subjects that have the same values of potential confounding variables.

In matching , you match each of the subjects in your treatment group with a counterpart in the comparison group. The matched subjects have the same values on any potential confounding variables, and only differ in the independent variable .

In statistical control , you include potential confounders as variables in your regression .

In randomization , you randomly assign the treatment (or independent variable) in your study to a sufficiently large number of subjects, which allows you to control for all potential confounding variables.

A questionnaire is a data collection tool or instrument, while a survey is an overarching research method that involves collecting and analyzing data from people using questionnaires.

When conducting research, collecting original data has significant advantages:

• You can tailor data collection to your specific research aims (e.g. understanding the needs of your consumers or user testing your website)
• You can control and standardize the process for high reliability and validity (e.g. choosing appropriate measurements and sampling methods )

However, there are also some drawbacks: data collection can be time-consuming, labor-intensive and expensive. In some cases, it’s more efficient to use secondary data that has already been collected by someone else, but the data might be less reliable.

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What Is Primary Research? Types, Methods, Examples

Appinio Research · 18.09.2023 · 11min read

Have you ever wondered how businesses and researchers gather those fresh insights that drive innovation and decision-making? That's where primary research steps in. In a world where information is gold, primary research acts as a direct channel to tap into the thoughts, behaviors, and preferences of people. Whether you're exploring new market trends, fine-tuning a product, or understanding human behavior, primary research is your compass for navigating the sea of possibilities.

What is Primary Research?

Primary research is the systematic process of gathering original data directly from individuals , sources, or phenomena to address specific research questions or objectives. This firsthand approach involves designing and conducting research methods such as surveys and interviews to generate unique insights and information tailored to the researcher's specific area of inquiry. Primary research enables researchers to collect relevant, accurate, and directly applicable data to their research goals, providing a foundation for deeper understanding and informed decision-making.

Benefits of Primary Research

Primary research offers many advantages that contribute to its effectiveness and relevance. Here are the key benefits that make primary research a powerful tool for generating insights:

• Tailored to Your Objectives: Primary research is custom-designed to address your specific research questions and objectives.
• Fresh and Current Data: Data collected is up-to-date and reflects the current context, ensuring relevance.
• Control over Methodology: You fully control the research design , methods, and data collection process .
• In-depth Exploration: Primary research allows for a thorough investigation of complex topics, uncovering deeper insights.
• Unique Insights: You gain direct access to unique insights, viewpoints, and behaviors from participants.
• Customizable Approach: You can adapt your research approach as new insights emerge, enhancing flexibility.
• High Data Quality: With careful planning and execution, primary research yields accurate, high-quality data.
• Personal Engagement: Engaging directly with participants enables a unique understanding of their experiences.

Primary vs. Secondary Research

While primary research involves collecting new data, secondary research involves analyzing existing data gathered by others. Secondary research is useful for building context, identifying trends, and gaining insights from previous studies. However, primary research provides you with unique insights and a firsthand understanding of your subject.

How to Plan Your Primary Research?

Before embarking on your primary research journey, thorough planning is essential to ensure its success.

1. Define Research Objectives and Questions

Clearly defining your research objectives and questions is the foundation of effective primary research. Ask yourself:

• What information do you seek to uncover?
• What are your goals and expectations from this research?

2. Choose the Research Method

Select a method that aligns with your research objectives. Common methods include surveys, interviews, observations, experiments, case studies, and focus groups, each with strengths and limitations.

3. Select the Target Audience and Participants

Identify the individuals, groups, or subjects you want to study. Your target audience will determine the relevance of your findings. Ensure your sample size is representative of your target population.

Types of Primary Research Methods

Primary research offers a diverse range of methods to gather data directly from sources, enabling you to gain unique insights and answers to your research questions. Each method has its strengths, and the choice of method depends on your research objectives, the nature of your subject, and the available resources.

Surveys and Questionnaires

Surveys and questionnaires are widely used methods to collect data from a large number of participants. You present a series of structured questions, which participants respond to by selecting predefined choices or providing open-ended answers.

Surveys are efficient for obtaining quantitative data and are suitable for studying opinions, preferences, behaviors, and demographics. Online platforms, such as Appinio and Google Forms, facilitate easy distribution and data collection.

Interviews involve direct conversations between the researcher and participants. Interviews can be structured, semi-structured, or unstructured.

• Structured interviews follow a predetermined set of questions, allowing for standardized data collection.
• Semi-structured interviews have a flexible format, allowing for a deeper exploration of responses.
• Unstructured interviews encourage open discussions and follow the natural flow of conversation.

Interviews are valuable for gathering rich qualitative data and insights into participants' experiences, thoughts, and emotions.

Observational Research

Observational research involves systematically observing and recording behaviors, interactions, and occurrences in natural settings. Researchers can be either active participants or passive observers. This method is ideal for studying behavior patterns, social interactions, and environmental influences.

Observational research provides a window into real-world behaviors without the potential bias that can arise from self-reporting. It requires careful planning to ensure data collection is consistent and objective.

Experiments and A/B Testing

Experiments involve manipulating variables to study cause-and-effect relationships. Researchers create controlled environments to test hypotheses and assess how changes in one variable impact another.

In contrast, A/B testing is a specific form of experimentation used in marketing and product development. It compares two versions (A and B) of a variable, such as a website layout or email subject line, to determine which performs better.

Experiments and A/B testing are powerful for establishing causal relationships and measuring the impact of interventions.

Case Studies and In-depth Analysis

Case studies involve an in-depth examination of a single subject, context, or phenomenon.

Researchers gather and analyze various data sources, such as interviews, documents, and observations, to provide a holistic understanding.

Case studies are valuable for exploring complex issues in detail and generating nuanced insights. While they lack generalizability due to their focus on specific instances, case studies contribute rich contextual information to the research landscape.

Focus Groups and Group Discussions

Focus groups gather a small group of participants to discuss specific topics guided by a moderator. These discussions encourage participants to share their opinions, perceptions, and experiences, fostering interaction and generating qualitative data.

Focus groups are valuable for exploring collective perspectives, identifying shared trends, and uncovering diverse viewpoints. The dynamic nature of group interactions can lead to the emergence of unexpected insights.

When selecting a primary research method, consider factors such as the nature of your research question, the level of detail you require, the resources available, and the preferences of your target audience. Combining multiple methods or triangulating data from different sources often enhances the validity and depth of your findings.

By choosing the suitable primary research method for your project, you can gather meaningful insights that contribute to your understanding of the subject at hand.

Primary Research Examples

To better understand how primary research is applied in various fields, let's explore some real-world examples that showcase the diversity and effectiveness of different primary research methods:

Example 1: Consumer Preferences Survey

• Research Objective: A cosmetics company wants to introduce a new skincare product line and wants to understand consumer preferences and needs.
• Method: The company designs an online survey targeting a wide demographic of potential customers. The survey includes questions about preferred skincare ingredients, product formats, packaging design, and price range.
• Outcome: By analyzing the survey responses, the company identifies that a majority of participants prioritize natural ingredients and prefer sustainable packaging. This insight guides the company's product development strategy and marketing messaging.

Example 2: Product Usability Experiment

• Research Objective: A software company wants to improve the user interface of its mobile app to increase user satisfaction and engagement.
• Method: The company conducts an experiment where users are randomly assigned to two groups: one uses the existing app interface (Group A), and the other uses a redesigned interface (Group B). User interactions, time spent on the app, and user feedback are measured.
• Outcome: The experiment reveals that Group B users spend more time on the app, complete tasks faster, and provide more positive feedback. This indicates that the redesigned interface enhances user experience, prompting the company to implement the changes for all users.

Example 3: New Product Concept Exploration

• Research Objective: An electronics company wants to develop a new wearable device and seeks input from potential users.
• Method: Researchers organize focus group sessions with participants who fit the target demographic for the wearable device. Participants are encouraged to share their thoughts, expectations, and concerns regarding the device's features and usability.
• Outcome: Focus group discussions reveal that participants are interested in a device with health monitoring capabilities but are concerned about data privacy. This feedback guides the company in refining the product concept to address user needs and alleviate concerns.

Primary Research Limitations

While primary research offers numerous benefits, it also comes with inherent limitations. Being aware of these limitations is essential for conducting rigorous and well-rounded research:

• Resource Intensity: Primary research can be time-consuming and require significant resources in terms of manpower, budget, and time.
• Cost: The costs associated with participant recruitment, data collection tools, and analysis can be substantial.
• Subjectivity: Researchers' biases can unintentionally influence data collection, analysis, and interpretation.
• Limited Generalization: Findings from primary research might not be easily generalized to larger populations due to sample size limitations.
• Data Collection Challenges: Collecting accurate data can be challenging, particularly in sensitive topics or hard-to-reach populations.
• Potential for Error: Mistakes in survey design, data entry, or analysis can introduce errors in the research findings.
• Ethical Considerations: Ensuring ethical treatment of participants, informed consent, and privacy protection is vital but can be complex.
• Validity and Reliability Concerns: Ensuring the validity and reliability of data requires careful planning and execution.

Primary research is your direct line to understanding your customers, improving products, and making smarter decisions. It's like having a conversation with your audience, getting insights straight from the source. Whether you're asking them questions, watching their behaviors, or testing new ideas, primary research gives you the real-deal information you need to stay competitive and relevant.

Remember, primary research isn't just for big corporations – even small businesses can tap into its power. By listening to your customers and adapting based on their input, you're not only meeting their needs but also building a stronger, customer-focused brand.

How to Conduct Primary Research in Minutes?

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Marketing91

What is Primary Market Research? Types & Examples

September 18, 2023 | By Hitesh Bhasin | Filed Under: Marketing

When it comes to marketing a business , understanding your target audience is essential. However, the only way to truly understand who your audience is and what they are looking for is by conducting primary market research. Through this research, you can uncover the habits and preferences of your target audience to help inform your marketing decisions .

An example of primary market research can be a situation where a company wants to launch a new product and needs to know how its target market would react to it. In this case, the company could ask potential customers about their reactions to the product using surveys & focus groups , and also get feedback on what could be improved or changed.

The research uses various techniques such as surveys , phone calls, field tests, interviews, focus groups, in-person and observation to gather information. With primary market research, the goal is to obtain customer feedback from different perspectives including social, emotional, cultural, rational, and economic aspects.

Table of Contents

What is Primary Market Research?

Primary market research is the process of gathering data directly from individuals or organizations. The most common method used for primary research is conducting market research surveys. However, primary research methods such as focus groups, interviews, and observational research provide essential insights that can influence and establish crucial strategies for effective growth.

It refers to collecting information directly from sources such as prospective customers, and it involves collecting new data that has not been previously compiled. It involves conducting a study to understand the needs and preferences of your target consumers. This form of exploratory research is done by directly approaching your target audience and asking them specific questions about your product or service.

It is an effective way of gathering information by directly interacting with the source, which could be your customers or potential customers in your target market. This could be done by asking them questions and conducting surveys yourself or by hiring someone to do it for you.

Primary Market Research Examples

• ABC is planning to launch a new product and wants to ensure that it meets customer needs. To gather information, ABC can conduct primary market research by surveying its current customers or other potential buyers in the target market.
• An instance is where company XYZ seeks to gain insights into its competitors in the market. To achieve this, XYZ can hold focus groups comprising prospective customers and ask questions about their familiarity with rival brands , their level of satisfaction with them, and their perceptions of XYZ’s product offerings. This exemplifies primary market research.
• LMN, a company, can gather feedback about the effectiveness of its advertising campaign by conducting a survey among the targeted demographic and asking questions related to the campaign.

Why is Primary Market Research Important?

Businesses can benefit from using primary market research as it allows them to gain insight into their target customers and make informed decisions. Although primary research may require more time and money than secondary research , it provides more conclusive findings. Organizations can benefit from primary market research in several ways such as –

• Gathering Accurate Results
• Identifying Unmet Needs
• Understanding Industry Challenges
• Enhancing Product Quality and Design
• Understanding Customer Habits and Preferences
• Improving Services
• Predicting future trends, etc

Types of Primary Market Research

While conducting primary market research, you usually collect two fundamental types of information –

• Exploratory research – Typically, this type of research is broad and exploratory and involves conducting long interviews with one person or a few people. The language used for output is English.
• Specific research – The purpose of this research is to address a specific issue identified through exploratory research by conducting more rigid and organized interviews.

4 Methods of Primary Market Research

Four primary market research methods are:

1) Interviews

An effective primary market research method to conduct research and develop new ideas for your product or service is by conducting in-depth interviews. These interviews involve asking and answering questions and can be conducted either in person or over the phone.

To conduct a more effective interview, it is recommended that you prepare your questions beforehand and limit the interview duration to 20-30 minutes. If you need to understand body language , conducting in-person interviews will be better but if you want interviewees to be more open and honest in their responses then phone interviews can help them be more at ease.

2) Online surveys

Online surveys refer to questionnaires that are sent to people through email invitations, websites, or social media. For optimal response rates, it’s important to ensure that the online surveys are mobile-friendly so that respondents can easily answer the questions using their smartphones or tablets.

Completing the survey will require more than just accessibility. To keep respondents engaged, the questions should be a mix of well-crafted closed and open-ended questions. Additionally, each question should offer the choice not to answer to prevent respondents from exiting the survey.

3) Focus groups

Focus groups are a type of qualitative marketing research that involves 4-12 people led by a trained moderator. They are used to discuss and provide feedback on a product, service, or concept. Think of them as a broader and more relaxed version of an in-person interview.

Before taking part in the focus group , potential participants are assessed to ensure they match the criteria of the target audience. During the session, the moderator will have a set of prepared questions to ask, similar to an interview, to gather feedback on the participants’ opinions, thoughts, interests, and preferences. Focus groups aim to gain valuable insights that may not have been previously considered.

4) Observational research

Observational research is a type of primary market research that involves a distant approach. It involves a trained observer who does not directly interact with the consumer . A technique that involves observing a consumer’s response to a product or service, sometimes through camera footage, is commonly regarded as the most genuine approach to obtaining insights.

Best Ways To Do Primary Market Research

1) in-depth interviews (idis).

In-depth Interviews (IDIs) are a qualitative research technique where a single respondent is interviewed at length.

They are structured and led by a trained interviewer who is well-versed in the discussion guide, enabling them to probe deeper into the respondent’s thoughts, perceptions, and attitudes .

2) Minimum Viable Product (MVP) Testing

In MVP testing, a basic version of a product that has enough features to capture the attention of prospective customers is released.

Feedback is then collected from early users to make improvements. It’s a cost-effective way to understand market needs and validate a product idea before investing heavily in product development .

3) Product/Field Trials

Product or field trials involve giving a product to a select group of users for a certain period and collecting their feedback.

These trials offer an understanding of real-world usage and acceptance, helping businesses identify any changes that need to be made before a full-scale launch.

4) Hypothesis Testing

Hypothesis testing is a statistical method used in market research to test assumptions about a population based on sample data.

It can help organizations make informed decisions by validating or invalidating their assumptions about their market.

5) Online focus groups

Similar to traditional focus groups, online focus groups involve a moderated discussion with a small group of participants.

However, the discussion takes place in a virtual environment, which can allow for a broader geographical reach and greater scheduling flexibility.

6) Intercept Surveys

Intercept surveys are conducted in person, usually in a location where the product or service is used.

Researchers “intercept” consumers to ask about their experience immediately after use, ensuring the feedback is fresh.

7) In-person focus groups

In-person focus groups, like their online counterparts, involve guided discussions led by a moderator.

However, these discussions occur face-to-face, allowing for more direct interaction and observation of body language and non-verbal cues. This can provide rich, nuanced insights that may not be captured in an online environment.

Primary vs. Secondary Market Research

The difference between primary and secondary research is associated with the way of collecting data.

Primary market research involves collecting data to fulfill your business requirements while secondary market research is information that has been previously gathered (existing data) for different purposes but is still useful for your business. Primary research is focused on answering your specific business questions and aims to gather information from a group of people who have similar characteristics to your potential customers.

While secondary research data can be useful in addressing business queries, it has limitations. The information gathered from a particular audience may not represent your intended audience, leading to biased findings. When it comes to deciding between primary or secondary research processes, data collected firsthand through primary research is more reliable than secondhand information that someone else collected by conducting secondary research methods.

Qualitative and Quantitative Research

Primary research can be classified as either qualitative or quantitative.

Qualitative research involves analyzing information that is not presented in numerical form. This type of research yields results that are explanatory and are obtained through methods such as observation, interviews, record reviews, surveys, and focus groups. Quantitative research , on the other hand, involves collecting data that is presented in numerical forms, such as percentages and statistics.

Therefore, various collection methods are needed for this type of research. Quantitative research involves gathering data through online surveys, questionnaires, and secondary sources such as database reports. Primary market research typically produces conclusive data that is a combination of qualitative and quantitative information.

Benefits of Conducting Primary Market Research

1) data ownership and quality.

If you conduct primary market research, the data collected belongs exclusively to you and it will be of top-notch quality. Although accessing secondary market research data may be difficult, conducting your primary research gives you and your company full control over the collected data.

2) Relevancy

Primary market research can quickly and accurately uncover the most relevant insights to inform your business decisions. Data from primary market research studies are collected in real-time and can be used to guide your business decisions.

3) Answers Specific Questions

If you have particular questions about your industry, customers, or market, primary market research can provide answers. This research allows you to ask tailored questions that focus on a specific group of people, which can lead to obtaining more pertinent information.

4) Targeted approach

Conducting primary market research can assist you in concentrating on a particular group or audience by narrowing your scope. Unlike secondary research, which collects data from large populations, primary research is more targeted and specific.

Primary Data Collection Disadvantages

The drawbacks of primary data collection include:

1) Implementation could have a high cost

Collecting primary data involves obtaining information directly, which may require specialized equipment and visiting specific sources of information .

2) The process is tedious

Collecting new data through surveys, questionnaires, and interviews is a time-consuming process. On the other hand, researchers can use existing sources to conclude secondary data , which requires less planning.

3) More people are involved in primary market research

When it comes to research, primary research involves more people than secondary research. These individuals perform different tasks such as designing the survey, conducting customer interviews, and analyzing the outcomes.

4) Observers are needed to make sure that research is well-implemented

Professionals who have had extensive experience dealing with people should be the ones to conduct interviews and observe the proceedings.

5) Responses may be unreliable

Customers may not always provide completely truthful answers in questionnaires and surveys, as they may want to seem knowledgeable or may not remember their actions accurately.

6) May cause misleading results

If the research process is not conducted properly, it can lead to biased research results. Factors that contribute to this may include misinterpreting results, analyzing data based on personal opinions, and inaccuracies.

Finding A Primary Market Research Vendor

Using primary research data is a great way to gain valuable insights into your customers’ needs. However, the process of researching and interviewing potential vendors can be lengthy and overwhelming.

To find the right vendor for your primary research process , it’s essential to be prepared and know which questions to ask. Here are some tips to help you get started.

• Determine Your Research Objectives
• Define Your Budget
• Research Vendors Thoroughly
• Ask About Their Experience And Credentials
• Evaluate Vendor Costing
• Assess The Quality Of Their Data And Reports
• Focus On Client Satisfaction
• Check References And Testimonials

Using an independent, third-party research firm is a highly effective method while conducting primary research. To ensure that you get the best vendor for your research needs, it’s important to carefully evaluate potential providers.

Key Primary Market Research Considerations

For beginners in primary market research, it is useful to have an idea of what to anticipate. The following is a brief list of some of those factors to take into account –

• Cost – It is recommended to allocate a budget for primary market research. The information obtained from the research will be exclusive to you and can be utilized for a considerable amount of time. Paying for valuable market insights is a wise investment.
• Time – Planning the execution of various primary research methods is a time-consuming task that requires careful consideration. However, you can save time on primary research by utilizing appropriate resources.
• Use of multiple methods – For effective results, it’s advisable to use more than one primary research method in marketing research . It’s best to strategize and use at least 2 or 3 different methods.

1) How to conduct primary research?

Conducting primary research involves identifying your research objectives , selecting your research methods (such as surveys, interviews, or observations), using valid and reliable sources, and finally analyzing and interpreting your data in a clear, understandable manner.

2) What are the characteristics of primary market research?

Primary market research is characterized by its direct approach, as information is gathered firsthand from potential or existing customers. It is tailored to specific research questions , making the data collected highly relevant and exclusive to the researcher.

3) What is primary and secondary research?

Primary research is used to collect data that is new and directly from the source, while secondary research collects and analyzes previously published data or secondary data . Primary research provides exclusive insights but can be time-consuming and expensive, whereas secondary research is usually quicker and less expensive, but not as specific to your needs.

4) What are primary research examples?

Examples of primary research include conducting surveys, performing interviews, or carrying out observations. These methods facilitate direct interaction with potential or existing customers, allowing researchers to collect specific, tailored data.

Liked this post? Check out the complete series on Market research

Related posts:

• How to collect primary data for Market research?
• Primary Research – Meaning, Process and Advantages
• What is Primary sales, Secondary sales and Tertiary sales and what factors determine them?
• What is Research Design? Type of Research Designs
• How to Write Research Proposal? Research Proposal Format
• 7 Key Differences between Research Method and Research Methodology
• Qualitative Research: Meaning, and Features of Qualitative Research
• Research Ethics – Importance and Principles of Ethics in Research
• 11 Types Of Quantitative Research options that exist for Market Researchers
• What are the Types of Market Research?

About Hitesh Bhasin

Hitesh Bhasin is the CEO of Marketing91 and has over a decade of experience in the marketing field. He is an accomplished author of thousands of insightful articles, including in-depth analyses of brands and companies. Holding an MBA in Marketing, Hitesh manages several offline ventures, where he applies all the concepts of Marketing that he writes about.

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What Are the Best Primary Market Research Methods? & How to Use Them

Rev › Blog › Marketing › What Are the Best Primary Market Research Methods? & How to Use Them

Want to learn about your customers? Use primary research. Primary research obtains market research data directly from sources, compared to secondary market research that uses data already compiled. Conducting primary research provides insights into how current and potential clients relate to your product or service.

What Are the Types of Primary Market Research?

There are two forms of primary market research techniques: qualitative research and quantitative research. Qualitative research is a research technique that seeks to describe and understand behavior. It uses open-ended questions to collect information. Quantitative research gathers data that can be numerically presented and statistically analyzed.

What is Qualitative Research?

Qualitative research can provide insights into the why behind behaviors. It’s a descriptive form of research that can reveal ideas and perceptions that lead to decision-making. Qualitative research is a less formal research method compared to quantitative research. It can lead to recommendations for what to test with quantitative research. 

What is Quantitative Research?

Quantitative research is a structured research form that quantifies thoughts, opinions and behaviors. It can be used to test and validate hypotheses. Quantitative research results may be used to represent a larger sample size or population.

How to Conduct Primary Market Research

With any type of primary market research, the first critical step is to identify the right target audience and research subjects. You’ll also want to determine how big of a sample size you need to obtain helpful results. Determine the questions and problems you’re trying to address to help you make the right research selections.

Most primary market research techniques can be conducted through virtual means today. Depending on what you want to research and the insights you’re after, virtual primary market research may work for your business. The following are several types of primary market research to consider.

What Are In-Depth Interviews?

In-depth interviews are one-on-one conversations with a primary research target. They can be face-to-face interviews, telephone interviews or virtual interviews. With depth interviews, you can gain rich insights and really understand the needs, wants and desires of the interview subject. That helps you understand how they view your products or services.

Best Practices for In-Depth Interviews

Since in-depth interviews are time-intensive, carefully screen the participants you’ll be interviewing. Identify the characteristics you want a subject to have, then find interview subjects based on those characteristics.

Go into an in-depth interview with pre-planned questions that address the insights you want to glean. But be flexible. Ask follow-up questions if you need clarification or if an answer provides information warranting a new question. Try to ask more important questions earlier on in the interview in case you run out of time.

Virtual Tools for In-Depth Interviews

Video conferencing tools like Skype, Zoom and Google Hangouts make it easy to conduct in-depth interviews online. Using a transcription service like Rev can vastly improve market research efficiency . Rev’s searchable, shareable transcripts allow you to quickly find insights after the interview, so you can pay attention to the interview and focus on your questions instead of trying to take copious notes. After the interview, you’ll have a full, searchable record of everything that was said.

How Do Focus Groups Work?

Focus group research consists of a small group that answers questions and provides feedback during the same interview session. With focus groups, you get insights from individual group participants. You also can see how participants interact with each other during focus group discussions.

Focus Group Pitfalls

Focus groups can present some challenges. One is that one or several participants may dominate the conversation, which can discourage everyone from participating equally. Another challenge might be “groupthink,” when one participant’s views influence the other members to agree or to not state their true opinions.

Focus Group Tips

Focus group success requires a skilled facilitator. A focus group facilitator should encourage every participant to contribute meaningfully. The facilitator needs to pay attention to feedback and ask thoughtful follow-up questions. They should also encourage discussion and keep participants on track to get the insights needed. Focus group facilitators also need to avoid injecting their own bias into discussions.

Similarly to in-depth interviews, focus group interviews should feature the most important questions early on. Use a discussion guide to ensure those questions are answered within the time constraints. The discussion guide should also facilitate a logical discussion to keep focus group participants engaged.

Virtual Tools for Focus Groups

Online video conferencing tools work for focus groups, but there are new challenges to consider when conducting them virtually. Avoid having people talk over each other. Have the facilitator ask that participants only speak once they’re asked. Use a chat feature to facilitate discussion. If a participant wants to add to what someone’s saying, they can send a message in the chat or raise their hand to signal the moderator.

What Is Observational Research?

Observational research is a form of qualitative research that examines how subjects behave. It involves watching, listening and paying attention to that subject’s actions. Observation can happen through information-gathering or by monitoring purchase habits. It can also involve looking at complaints and product returns or watching how consumers behave in a natural or manipulated setting.

Best Practices for Observational Research

To get meaningful insights from observational research, make sure the subjects being observed accurately represent your customer base. Go into research sessions knowing the insights you’re looking for so you know what to pay attention to. Consider whether you need to tell subjects they’re being observed, since knowing they’re under observation could influence their actions.

Virtual Tools for Observational Research

Marketers can use tools like video camera connections or biofeedback systems to observe subjects and collect information. A researcher can use eye tracking software or a heat map to see how participants interact with a website or online environment.

Another way to conduct virtual observations is to let the user give real-time feedback. For example, a marketer may want to test a website experience. The subject could record themselves using it so the researcher can see real-time reactions and feedback.

How Are Surveys Used for Research?

Surveys are a form of quantitative primary market research that ask subjects the same questions across the board. These questions can be close-ended, where the survey taker has set responses like “yes/no,” or they can be multiple choice or evaluated on a scale ranking. Questions may also be open-ended, where the survey taker can write out their thoughts in the answer.

An advantage of large-scale surveys is that the results can be used to create reports for the public. Survey results can be built into a content marketing tool like an ebook to build trust and authority in the industry.

A survey should be a questionnaire that keeps survey takers engaged so they complete the survey. It should be logical and easy to follow, instead of jumping around topics, so survey takers stay on track.

Tips for Conducting Surveys

To get the best survey insights, questions need to be clear so survey takers don’t get confused and respond inaccurately. You also need to target the right sample and screen participants. That ensures they fit the demographic you want to study before you spend time surveying them. Getting results from the wrong demographic can also skew your insights.

Make it easy for the survey taker to complete the survey. Create mostly close-ended questions and just a few open-ended questions. That makes for a more user-friendly survey and also helps researchers gather data to compare trends. Once the results are in, researchers can perform a statistical analysis and determine how accurate of a representation the results provide.

How to Conduct Surveys

Surveys can be done a variety of ways, including by telephone, through online forms, by mail, in person and virtually. Online, you can create a survey using a tool like Google Forms or SurveyMonkey and send it out. If you want to ask someone survey questions face-to-face, you can use video conferencing to conduct the survey.

How is Social Listening Used for Research?

Social media gives marketers direct access to consumer opinions. Free networks like Facebook, Twitter, Instagram, YouTube, and LinkedIn are places where consumers post thoughts on businesses and market trends. Question-and-answer sites and forums like Reddit also offer space for consumers to post public discussions.

Social Listening Techniques

Social listening can be done observationally, where marketers track certain subjects or #hashtags. It can also be more proactive, by targeting certain content creators or influencers to get their opinions on a topic. For example, you could create a private social media group for your target audience. Then, conduct focus group-like interviews or let participants discuss among themselves.

Virtual Tools for Social Listening

There are several social listening tools you can use to aggregate data like mentions and trending topics. A couple to check out are Sprout Social and Brandwatch . You can also create surveys on sites like Facebook and Twitter to poll your social media audiences on various topics.

What is Experimental Research?

Experimental research is a test marketing format. Marketers can conduct A/B tests to manipulate factors and compare results. A common A/B test is showing different versions of landing pages or email campaigns to a similar audience. The researcher would see which version has the most engagement. You can also A/B test digital advertising campaigns to learn insights about leads and customers.

Experimental research can also be used to test physical products. For example, a skincare company might recruit participants to track their skin results. One group would use the company’s product. The other group would use no product or a competitor’s product. These types of results can be used as marketing materials later to promote the product.

Experimental Research Best Practices

When conducting experimental research, use ethical guidelines. Depending on the trial, it may be essential to tell subjects they’re being researched. Online marketing experiments like changing landing pages aren’t a big deal. But trials that can affect someone’s mental or physical health need to be disclosed. Consult with legal counsel before launching experimental research.

How to Do Experimental Research Online

Online marketing tools like HubSpot enable marketers to A/B test campaigns like email and landing pages. Change only one prominent feature in an A/B test. Leave the rest of the elements the same. That way, you can distinguish meaningful results based on that one element’s performance. Change too many elements, and it’s more difficult to pinpoint which one affected results.

Optimize Market Research Interviews with Transcription

When you’re interviewing subjects for primary market research, make the interview more efficient and cost-effective with transcription services. Get fast insights and complete qualitative data using Rev’s transcription service for research like interviews and focus groups. You can get most transcriptions in just 12 hours with at least 99% accuracy.

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Primary research: everything you need to know.

19 min read If you want to produce high-quality research, you need to understand what primary research is and how it can benefit your business. Find out how you can use primary research and its various methods to acquire the data you need and create valuable, insightful reports that aid you and your audience.

Market research has quickly become the star player for brands and businesses around the globe, netting them the insights they need, right when they need them.

From understanding industry challenges and future trends to customer satisfaction and product performance, market research is paving the way for organizations and empowering them to create content, products, services, and offers that truly resonate.

And it all starts with one thing: primary research. A research methodology that enables researchers to uncover and answer specific questions about issues, challenges, trends, or otherwise.

In this guide, we’re going to cover everything you need to know about primary research and how you can use it to benefit your business.

What is primary research?

Put simply, primary research is any type of research you collect yourself or commission on your behalf. This could be anything from surveys and interviews to observations and ethnographic research (studying participants in their real-life environment).

Most researchers will use primary research to supplement data from secondary sources, such as journals, magazines, website articles, and books. By using primary research methods alongside secondary research , researchers can validate and support their findings with additional, new data.

You don’t have to be an expert to conduct primary research or collect data from it — chances are you’ve done some of it already. Think back to when you may have been asked to carry out a project at school. If you did the research (or asked mom or dad), e.g. interviewing experts, and using data from journals, you’ve collected and used both primary and secondary data .

That example might be a little simplistic, but the concept still applies. There are, of course, plenty of methods to choose from, so understanding what they are and how they work will help you execute research campaigns.

Now, when you conduct primary research, you typically gather two basic types of information:

• Exploratory.  This research is general and open-ended . It typically involves lengthy interviews with individuals or a specific group.
• Specific . This research is more precise and problem-oriented. It involves structured, formal interviews.

Then there’s the question of qualitative research and quantitative research ; what kind of data do you want to capture? Do you want to understand the emotions and behaviors behind people’s actions or to put precise figures against certain issues? Another thing to consider.

In the next section, we’re going to go through the types of primary research methods, the advantages of primary research, and then how you can do it for your brand or business .

What are the types of primary research methods?

There are lots of different ways to carry out primary research, more notable methods are interviews and surveys — but what about observations, analyses, and focus groups ?

We’re all familiar with interviews. This research method usually involves one-on-one or small group sessions, conducted over the phone or in a face-to-face environment. Interviews are great for collecting large amounts of data from a small sample of subjects, or when specific information needs to be extracted from experts.

For example, for a piece on developing more sustainable energy sources, a journalist would choose to interview a subject matter expert to extract the primary research they need. Not only is the information more authoritative and accurate, but it’s also more compelling.

Be aware though, direct interaction can alter people’s opinions. For interviews and focus groups, it’s best to get an expert to manage and read the room to avoid skewing results.

Another industry staple. Though much more rigid compared to interviews (with predefined questions and themes), surveys are a great way to reach a target market and collect relevant data at scale. Surveys will typically provide a limited amount of information from a large group of people (as there are only so many questions you can ask before respondents get bored).

To get the most value out of surveys, it’s worth defining your audience and questions well in advance. Try to think of key themes that you want to explore and what you want to get out of the data collected.

For example, a supermarket might send out a survey to their customers on customer satisfactio n, asking questions about the overall in-store experience, the online experience, what customers would like to see, and more. Because it’s issued at scale, the supermarket can get a good understanding of what their larger customer base thinks.

Worried about your questions? Here’s how you can write great ones .

Transform your research and gain deeper insight with best-practice surveys

If you want to run world-class research or need help with research questions, look no further than Qualtrics CoreXM .

Designed to eliminate historic research inefficiencies, CoreXM is a single platform designed to get you breakthrough insights faster and more cost-effectively.

It empowers market researchers to centralize insights, leverage advanced analytics and automation to improve research quality, and scale effectiveness with a flexible management model (Research Services).

We can even help you to produce survey templates for free, no matter the type of research. Just check out our library.

Observations

While it might be the most arduous form of field research, observation is arguably the most impartial as there’s no interaction between the researcher and the subject. As such, this approach removes or reduces bias that could be encountered during an interview or survey, as the subject’s actions are not influenced by other factors.

For instance, a sports car manufacturer might want to see how their vehicles are used in real-world scenarios and if there are any limitations on the customer. This could be a case of visiting a race track or car showroom to see how customers use the vehicles.

Focus groups

This method is great for gathering data on particular topic areas. Sitting between interviews and surveys, focus groups allow you to engage a small group of people, e.g. subject matter experts.

More informal than interviews but more professional than surveys, they’re a great way to gain insight and valuable information on customers, pain points, and other areas of interest in your industry.

For example, a technology manufacturer might put together a focus group to discuss technology adoption amongst 24-36-year-olds ahead of a new product launch . Through this focus group, they can learn more about how 24-36-year-olds purchase and engage with new tech solutions .

Research services

While the process of gathering data is relatively straightforward, making sense of it (and having the right skills to turn it into insight) can be tough.

This is precisely why so many brands and businesses turn to research services. According to our data, 97% of market research is outsourced. This allows brands and businesses to gain access to relevant information for truly original research.

Though a more modern form (and approach) to primary research, research services enable brands and businesses to collect data and analyze it very quickly. But the main benefit? Expertise.

With research services you get a team of experts who know exactly what research questions to ask and how to turn survey responses into actionable insight. They know how to get the right respondents and the ideal sample sizes, as well as leverage primary research and secondary research data to build comprehensive, revealing reports.

At Qualtrics, we have a team of experts who can streamline your research process for both primary and secondary research, helping to uncover insights in days, not weeks. L.

What are the advantages of primary research?

Now you know about the main ways to collect data, what are the benefits of these primary research methods?

First and foremost, and perhaps most importantly, primary research delivers accurate, relevant, and up-to-date information, enabling you to identify emerging trends in customer behavior , discover unmet needs, and close gaps across the experience journey . There’s real value in being able to identify what comes next — and only primary research can give you a real-time view of what your prospects and customers need as the world changes around them.

Also, as you have full control of the approach, data collection and analysis, it can be far more efficient and cost-effective than others.

Lastly, the information belongs to you or your organization. You may choose to release the information to enhance your position in your market or industry or keep it private to avoid giving competitors an advantage .

Create better experiences

From a customer perspective, it offers many advantages and provides detailed information on how you can improve products, services, and experiences. By taking their market surveys in-house and using the Qualtrics XM Platform™ , Samsung collects, analyzes, and acts on insights gathered at every touchpoint. The team at Samsung can get studies up and running in an hour and quickly implement findings to transform their product, service, and customer experiences.

Develop engaging content

From a content perspective, this kind of first-hand data offers a plethora of opportunities. You can begin to create trend reports, answer the most pertinent prospect and customer questions, highlight key issues, and much more. Every voice matters and ensuring your research is inclusive is vital.

What are the disadvantages of primary research?

Costs can potentially spiral out of control if you feel that your results are inconclusive or that you want to change the data gathering method.

It can also be time-consuming, especially if you require a large sample size or don’t have the in-house expertise for the analysis. Data gathering is one thing — drawing insights and formulating conclusions is another. The time required to effectively plan, carry out, and scrutinize the data is often greater than the time it takes to conduct secondary research.

Lastly, accuracy. You have to account for potential bias — skewing the results — and poorly worded questions . There are ways to eliminate bias from your surveys, such as:

• including more open-ended questions
• making respondents feel comfortable
• using both qualitative and quantitative techniques
• using an impartial way to gather data

Primary vs secondary market research

The key difference between them is that you collect primary research first hand (often for a specific purpose, e.g. a trends report), while secondary research comes from pre-existing studies, materials, websites, or articles.

Secondary research methods are more about desk research. You scour reputable journals, articles, websites, and studies to find the information you need to either support a point or build your project around.

Most market research will start with secondary research to understand what the issues are or what prospects and customers are searching for online. This could be using Google Analytics to identify the key issues and trends in 2021 and then using primary research to get more information and delve deeper into them.

We would urge you to look at the primary vs secondary research debate a different way: both can be used in conjunction to support and validate points. Incorporating high-quality secondary research data into your reports can provide wider perspectives and show readers that your thoughts don’t exist in a vacuum.

Find out more about the differences between primary and secondary research.

How can businesses use primary research?

Competitor analysis . Trend reporting . Customer satisfaction. There’s no limit to the uses of primary research for businesses, particularly now as it becomes more difficult to gather information from prospects and customers.

One of the most effective ways to use primary research is for industry analysis and content campaigns. Let’s say you produce a report on current trends in automotive. From the data, you find that the key concerns for automotive manufacturers are:

• The skills gap and need for new technologies to support production
• Sustainability and shifting operations rapidly
• Supply chain efficiency and utilizing a dual supply chain (local and global)
• Customer demand and expectations of new-age vehicles

Now not only do these concerns make for great headlines, but you can also build entire campaigns around the data you find. Suddenly, rather than just one report sharing information and not making real use of the insight, you can create blogs, ebooks, webinars, opinion articles, commentary, and much more.

Primary research is the gift that keeps on giving — and that’s precisely why more and more organizations are creating annual reports on the state of their industry or market.

As well as providing unique insight and content campaign opportunities, primary research establishes credibility… and very quickly. If you produce an annual report and none of your competitors are doing the same (or their reports lack the granularity and focus your prospects and customers require), you demonstrate expertise and become the go-to for real insight.

How can primary research support marketing?

As the gift that keeps on giving, primary research lays a foundation for marketing campaigns and long-term strategy.

Most research is top-of-the-funnel (TOFU) — or at least designed to be as such. Market research reports are inherently about raising awareness of an issue or problem — that’s where businesses can extract the most value.

For your marketing team, the issues raised in the report can become the headlines for blogs and commentary. They can then create content to help readers solve those issues, referencing what your business does in the process (but only if it’s relevant). Finally, marketing can steer readers of the report content towards other assets of interest, gradually nurturing readers to a point that they’re sales-ready.

Here are just a few things you can get out of primary research reports:

• Opinion articles
• Sales collateral
• Infographics
• Executive summary reports per industry

Conducting primary research

Getting started with primary research is simple thanks to the tools and software available today, and most of the time it starts with a simple online survey.

No matter what research you want to conduct, there are survey solutions and templates to meet your needs.

But before we go into the technicalities, let’s focus on the fundamentals of conducting research:

• Have a subject in mind. What issues do you want to cover?
• Validate that subject based on secondary research. What are people searching for or need answers to?
• Draft a research question (or problem statement) and revise as necessary. What will be your main question or the purpose of the study?
• Agree on the goals and objectives of the project. What do you hope to achieve?
• Create a timeline and set deadlines. Is everyone aligned?
• Choose your research methods and tools (e.g. face-to-face interviews or online surveys). What’s the best way to get the information you need?
• Work out your ideal sample size (smaller or larger population?). If you need help working out your ideal sample size, check out our calculator!
• Think qualitative or quantitative (a mixture of both generally works well). Do you want to know the reason behind responses or just get conclusive numerical data?
• Develop a questionnaire and have it peer-reviewed. Are your questions as good as they can be and do they support your problem statement?
• Test your questionnaire. What better way to ensure that it works and delivers the right insight?
• Select a delivery method. How do you want to distribute your questionnaire? Online? Offline?
• Analyze the results. Do you have the right tools, skills, and resources to glean insights from the data you receive?

This is certainly a condensed structure for conducting primary research, but it should work nonetheless. The main thing is starting the right way — have the right subject in mind and validate it.

Recent research trumps everything else

When you have the means to conduct research frequently and at scale, the more recent or ‘fresh’ it is, the more valuable the insights.

Of course, not every brand or business is in a position to undertake primary or even secondary market research every year. This could be due to budgetary constraints, poor insights from previous research, or a lack of in-house expertise.

But regardless of the issue, the power of primary research is well-documented and apparent, and it gives you the means to create profound and compelling content for your target audience.

Start your next research project the right way

If any of the above issues sound familiar, we can help. At Qualtrics, we specialize in market research and gleaning insights from data to create breakthrough experiences. From designing your study and finding respondents, to fielding it and reporting the results — we can help you every step of the way.

As well as that, we know how you can get more ROI from your market research and have put together a simple guide to show you.  

In this guide, discover how you can:

• Improve ROI through speed, agility, and consolidation of your research functions
• Get insights faster without sacrificing data quality
• Adjust how you conduct research to be more nimble

Download your copy for free using the button below.

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Related resources

Market intelligence 10 min read, marketing insights 11 min read, ethnographic research 11 min read, qualitative vs quantitative research 13 min read, qualitative research questions 11 min read, qualitative research design 12 min read, primary vs secondary research 14 min read, request demo.

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Primary market research: types and examples

Jun 20th, 2023

What is primary market research?

Primary market research methods, examples of primary market research, how to conduct primary market research.

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Bill Gates, the philanthropist and creator of Microsoft, once said: "Your most unhappy customers are your greatest source of learning." The success of any product greatly depends on your ability to gather and analyze feedback from your audience. Market research provides practical insights to help you develop a new offering, create sales and marketing strategies and make well-considered decisions.

Primary market research allows you to learn more about new markets, create offerings and services that clients like and draw their attention with appealing marketing messages. In this article, we will describe the idea of primary market research, clarify the distinctions between primary and secondary research and provide techniques and examples.

Primary market research is a study performed by an individual or organization to collect precise and timely information for marketing purposes. Researchers gather data directly instead of relying on information from the earlier study. For example, a company may conduct research to understand how customers view a brand. This data is unique and cannot be found in other sources.

The procedure entails collecting your customers’ opinions about a product or service. Researchers can conduct a study using different techniques: focus groups, in-person meetings, observations, and surveys. The objective of primary research is to uncover customers’ requirements, preferences, and opinions to find an ideal positioning for the product. Primary research enables marketers to obtain detailed data about the industry and target clients. The study helps businesses forecast future trends, identify industry challenges and develop persuasive messaging.

With this study, you can determine the price customers are ready to pay for your offering, understand customers’ perceptions of the brand, and improve the products. Such problems cannot be solved with secondary research since they are specific to each company, particular customers, and products. Let us compare primary and secondary market research to find the other differences between these approaches.

Primary vs secondary market research

The main distinction between these techniques is data sources. While primary research data is collected directly from a pre-selected targeted audience, secondary research data comes from external agencies and companies. When a company conducts primary research, it may run an experiment, hold a series of interviews or observe customers’ behavior. It will directly acquire this raw data, which will be explicitly gathered for the company’s research needs.

In contrast, secondary research provides information initially collected by governmental organizations, trade groups, and market research companies. Thus, this research draws conclusions based on publicly available data. Secondary research often examines large amounts of generalized data, whereas primary research is conducted to address specific questions you have about your company, clients, or rivals.

The other difference is the cost. Conducting secondary research requires less time and money than collecting primary data. Primary research often involves a large sample size and a high response rate to ensure reliable and valid data. At the same time, secondary research can help you save time and money by using existing data that is easily accessible. 

When choosing between primary and secondary market research, you need to take into consideration your budget, objectives and questions, time limits, and data quality and reliability requirements. You should carry out primary research when you are looking to find answers to certain questions related to your target market or clients that available information cannot answer. Secondary research will be helpful if you want to learn more about your market or competition or verify the data you already have.

Below, we will take a closer look at common primary research methods and consider how to use them for marketing purposes. 

Choosing the appropriate method of primary market research depends on your needs, the problems you want to solve, and your business objectives. We will consider six qualitative and quantitative primary research methods and describe each technique in detail.

In-depth interviews

In-depth interviews, or IDIs, are an excellent way to get reliable market insights and learn more about your audience. This method entails running a series of structured or unstructured interviews with purposefully chosen participants. The interview typically lasts 20 to 30 minutes. Depending on the goals of the study, market research companies recommend conducting from 8 to 14 interviews, depending on how challenging it is to reach the target demographic.

You can also run interviews with industry leaders to gain expert knowledge. This qualitative research method provides a more personalized approach to the participant, which allows researchers to receive more insightful answers. The results of a correctly done in-depth interview will include not only the participant’s answers but also the interviewer’s observations of the body language, tone, and phrasing of responses. 

Focus groups

Online and in-person focus groups are popular primary market research methods as they allow for gathering many different opinions at once and collecting feedback about certain products or concepts. A focus group typically consists of 8 to 12 individuals who are asked to participate in a moderated discussion. The talks are typically recorded, and the data can be used to develop strategies and decision-making.

Nowadays, most companies prefer online focus groups. They are more cost-effective and much simpler to organize as there are no travel, venue, or other expenses to consider. Compared to in-person set-ups, convincing individuals to participate in a video focus group is also easier.

However, the advantage of in-person focus groups is the ability to interpret body language when people are in the same place. Moreover, this format facilitates brainstorming and discussions between respondents. Researchers can include more exercises and other activities, such as encouraging participants to work in groups and sketching out the concepts.

Surveys are one of the most common and effective primary market research methods. Moreover, this approach allows to collect quantitative data at a low cost. Surveys typically consist of open-ended, close-ended, or a combination of both types of questions addressed to existing or prospective customers. The main purpose of a survey is to gather data on a particular topic or get customers’ feedback.

You can use surveys to evaluate brand awareness , develop a pricing strategy, define the total addressable market or segment it into smaller parts, analyze brand loyalty, and assess customer satisfaction. Creating surveys of the right length is critical to collect enough viable information and not bore clients.

One of the popular types of online questionnaires is intercept surveys . It is an excellent market research tool that enables gathering feedback from website visitors, even if they are not likely to be your customers. These surveys can include rating, open-ended and multiple-choice questions and can be used for website usability testing, evaluation of user behavior, and other purposes. With intercept surveys, a company can better understand consumers' shopping experiences and their level of satisfaction with products or collect demographic information.

Ethnographic research

This method of primary research implies observing consumers’ behavior in a natural environment like a home or store and analyzing how they interact with a product. By examining these interactions, product developers, brand managers , and designers can test products, determine consumers’ preferences or receive feedback on the functionality or package design.

Ethnographic research also involves collecting information from different data sources, such as interviewing consumers and videotaping people in a natural setting. Then researchers analyze the results using coding , which implies identifying key points in the information. They look for discrepancies between people’s words and actions and identify participants’ cultural characteristics to understand how it influences their behavior.

Consumers mustn't know that they are being watched. Otherwise, they will not act naturally, which might result in drawing incorrect conclusions. In addition, you can examine how consumers interact with competitors’ products to understand how to improve your offering.

Hypothesis testing

Hypothesis testing is utilized to decide which of two statements is supported with evidence. Researchers employ statistical methods to determine if the data confirms or disproves the hypothesis.

A hypothesis in market research is a proposed theory that explains a phenomenon. It consists of two elements: a variable and a relationship. A variable can take on different values like age, gender, or price. A relationship is a link between several variables. For example, the relationship between demand and price implies an increase in price and a decrease in demand.

The purpose of hypothesis testing is to provide information that businesses may utilize to guide decision-making. This method might be useful for pricing a product across various markets or audiences. Business owners can also use hypothesis testing to develop marketing strategies and assess the product’s positioning and messaging.

Minimum viable testing

This primary market research method implies testing a new product or feature before launching it to the market. According to this approach, a company releases a minimum viable product with basic features to save time and costs and to evaluate the product’s potential before making considerable investments. Then business owners analyze customers’ feedback and decide whether it is competitive and can satisfy users’ requirements.

By applying this approach, a company can produce a product faster and reduce development iterations while achieving product-market fit . However, remember that the MVP must provide enough value to motivate people to buy it and demonstrate future benefits to retain early adopters. At the same time, it should provide a feedback loop to direct future growth.

The MVP approach is practical for technical products like video games and software. Observing people while they utilize the product is more reliable than using surveys or forecasts to back up marketing hypotheses.

Once you have a thorough grasp of different market research methods, you can better plan your product marketing strategy . Now let us consider how various organizations apply these methods in practice.

We will present examples of several well-known companies that constantly use market research findings to learn about customers’ expectations and improve their products.

Domino’s Pizza

Today Domino’s Pizza is the largest pizza chain in the world. However, in 2009 the company was losing customers and experiencing a record decrease in share price. One of the main reasons was a disgusting video created by two former Dominos employees that went viral. After watching the video, 65% of respondents who had previously visited Domino’s Pizza said they would not go there again.

For months, Domino's gathered feedback via focus groups and surveys to develop the "The Pizza Turnaround" campaign to promote their new pizza. The goal was to change the product formulas from the ground up in response to clients’ comments. The company worked on the pizza toppings, dough, and sauce. As a result, they produced pizzas that tasted precisely the way their consumers wanted them to.

As a result, the company's sales increased by 14.3% in the first quarter of 2010 compared to 2009. Domino's shares skyrocketed 130% between December 2009 and December 2010. 

Fujitsu, Toyo University, and Amagasaki City conducted field trials for testing AI software that prevents phone fraud. The goal of the collaborative study is to create an AI model that can identify different phone fraud schemes, helping stop scams targeted at the elderly and other vulnerable demographic groups.

Phone fraud damage was over 97 million yen in Amagasaki City alone in 2021. From March 30 to March 31, 2022, the three parties simulated real situations in field trials with elderly residents from Amagasaki City to address this issue and build new instruments to combat fraud.

To establish a reputation as a global tech leader throughout the years, Apple has implemented several data-collection strategies , including primary market research methods. For example, in 2015, the company gathered feedback to evaluate customer satisfaction with Apple Watch. Three months after its first debut, the corporation was able to see, according to research , that the public liked its new product.

After a consumer makes a purchase, the corporation sends them questionnaires via email. Customers are asked to assess their degree of satisfaction and likelihood of making another purchase. The fact that customer surveys are sent right away after purchase allows Apple to get timely, accurate responses. In addition, Apple’s retail locations invite consumers to review their in-store experience at the moment of sale.

In the following paragraphs, we will explain how to run this type of research step-by-step.

These five steps will help you perform market research to inform your advertising strategies.

Step 1. Identify buyer personas. The first step is creating buyer personas or characters representing your existing or potential clients. These people should have character traits and features of your niche market . These traits might include age, gender, education level, job title, lifestyle, income, and interests.

Step 2. Choose respondents. The next step is to find people who match the characteristics of your buyer personas. These people might include recent clients who have purchased your products, your company’s social media followers, or people who have bought competitors’ offerings. Then contact them via email or social media and ask consumers to take part in the research. 

Step 3. Prepare questions and conduct research. Consider the purpose of your study and the information you need to collect. Once you have prepared a set of questions, you can perform the investigation. Ask open-ended questions and encourage participants to speak for as long as they wish in their replies. You can conduct the study via social media or email and provide customers with a reward, such as a coupon code or a free item, in exchange for participating in the poll or survey.

Step 4. Conduct secondary research. Find similar companies in your industry and search for market studies that they have conducted. Analyze their products, changes they have implemented, and consumers’ feedback. Then you may create the go-to-market strategy by analyzing what clients enjoy and hate about rival products.

Step 5. Conclude the research and analyze findings. Examine the information you have collected with primary and secondary research . Search for patterns and trends. You can identify correlations between products that customers like and understand how the business's techniques influenced their experiences. Finally, you can create graphs or charts to illustrate your findings and demonstrate them to sales and marketing teams. This information will show the company’s performance and highlight areas for improvement.

Conducting studies and developing your business is a never-ending process. The secret of success is to establish a strong connection with clients, always look for new opportunities, and adjust to the needs of your customers .

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Table of Content

A guide to primary market research: what is it, and why is it important.

Conducting primary market research can help you get customer insights right from the source. Here's all you need to know about it.

In the ever-evolving world of business, understanding the intricacies of your target audience is paramount. It's not enough to skim the surface; you need to dive deep and discover the hidden insights that can propel your business to new heights. Welcome to the realm of primary market research, where data becomes your ally and insights become the catalyst for success.

What is primary market research?

Primary market research refers to the process of gathering first-hand information directly from the source. It involves collecting fresh data specifically for your research objectives, rather than relying on existing data or secondary sources. The primary research methods can vary, including surveys, interviews, observations, experiments, and focus groups.

The purpose of primary market research is to gain a deep understanding of your target audience, their preferences, opinions, behaviors, and needs. It allows you to gather specific and relevant data that is tailored to your business or research goals. By engaging directly with your target audience, you can uncover valuable insights that provide a solid foundation for informed decision-making, product development, marketing strategies, and overall business success.

One example of a brand that used primary market research to improve its offerings is LEGO. In one study, they discovered that only nine percent of their users were female. To address this, LEGO first embarked on a comprehensive market research effort, studying the play habits of 3,500 girls and their mothers over a four-year period. The research findings guided LEGO in developing a new product line called "Friends," featuring vibrant and diverse colors, appealing packaging, and modified figures with accessories like hairbrushes and purses.

Since the launch of Lego Friends in 2012, Lego's market share among girls has significantly increased, and the introduction of the line is also credited with tripling the sales of girls' construction toys in the U.S. and major European countries. The success of Lego's primary market research and subsequent product development demonstrates the value of understanding and catering to the specific needs and preferences of target audiences.

Why is primary market research important?

Tailored insights.

Primary research allows researchers to gather data directly from the target audience, providing unique and customized insights specific to their research objectives. It enables a deeper understanding of consumer preferences, behaviors, needs, and opinions. For example, a clothing retailer conducting primary research may conduct focus groups and interviews with their target customers to understand their preferences in terms of styles, colors, and pricing, allowing them to tailor their product offerings accordingly.

Current and relevant data

Primary research captures real-time data, reflecting the current market conditions and consumer dynamics. It ensures that the findings are up-to-date and align with the latest trends and changes in consumer behavior. For instance, a technology company conducting primary research may conduct surveys or interviews regularly to gather insights on the latest trends and preferences in smartphone features, ensuring that their product development aligns with the ever-evolving consumer demands.

Accuracy and reliability

Since primary research involves collecting data directly from the source, it is generally considered more accurate and reliable. Researchers have control over the data collection process, ensuring that it aligns with their research objectives and quality standards. For example, a healthcare organization conducting primary research may conduct clinical trials or surveys to gather firsthand data on the effectiveness and side effects of a new medication, ensuring accurate information for regulatory approvals and patient safety.

Specific research objectives

Primary research allows researchers to address specific research questions and objectives. They can design surveys, interviews, or experiments tailored to their needs, ensuring that the collected data provides insights directly relevant to their study. For instance, a market researcher investigating consumer buying behavior may design a survey specifically tailored to understand the factors influencing purchase decisions, such as price, product quality, or brand reputation, providing precise insights directly relevant to their study.

Unique and unexplored insights

Primary research can uncover new insights and untapped areas of research. It allows researchers to explore uncharted territories, discover emerging trends, and gain a competitive edge by identifying opportunities not previously explored by secondary research. For example, a food manufacturer conducting primary research may conduct taste tests and surveys to explore consumers' preferences for innovative flavors, enabling them to develop unique products that stand out in the market and cater to changing consumer tastes.

Decision-making support

Primary research provides a solid foundation for decision-making. The insights gained from primary research can inform strategic planning, product development, marketing strategies, and other key business decisions. It helps organizations make informed choices based on concrete data and understanding of their target audience.

Competitive advantage

By conducting primary research, organizations can gain a competitive advantage by understanding their customers better than their competitors. It enables them to develop targeted products, services, and marketing campaigns that resonate with the specific needs and preferences of their target audience. For example, a hospitality chain conducting primary research may conduct guest satisfaction surveys to identify areas for improvement and provide a superior customer experience, giving them an edge over their rivals in terms of customer loyalty and positive reviews.

Innovation and product development

Primary research plays a crucial role in innovation and product development. By gathering direct feedback from consumers, researchers can identify areas for improvement, uncover unmet needs, and generate ideas for new products or services that meet customer demands. For example, a cosmetics company conducting primary research may organize focus groups and online communities to gather feedback on existing products and understand customers' skincare concerns and preferences. This insight can help the company develop new formulations, identify gaps in the market, and create innovative beauty products that address specific customer needs and trends.

Market validation

Primary research helps validate and complement findings from secondary research. It allows researchers to confirm or challenge existing theories, hypotheses, or market assumptions. It provides a firsthand perspective that adds depth and credibility to the overall research findings. For instance, a market researcher studying consumer preferences for eco-friendly products may conduct surveys to verify the demand and willingness to pay for sustainable alternatives, supporting or challenging the existing market assumptions and guiding business strategies.

Long-term strategic insights

Primary research can provide long-term strategic insights by establishing ongoing relationships with the target audience. Researchers can conduct longitudinal studies, track changes in consumer behavior over time, and adapt strategies accordingly. For example, a bank conducting primary research may conduct annual customer satisfaction surveys to track changes in customer needs and expectations over time, enabling them to adjust their services and offerings to maintain customer loyalty and competitiveness in the long run.

Pricing and revenue optimization

Primary market research is important for pricing and revenue optimization strategies. It allows businesses to gather direct insights from their target audience regarding their pricing preferences, perceptions of value, and willingness to pay. This data helps organizations optimize their pricing structure, set competitive prices, and maximize revenue by aligning their offerings with customer expectations. For instance, a software company conducting primary research may conduct price sensitivity surveys and conjoint analysis to understand how customers perceive the value of different pricing tiers and features. This data can help the company optimize their pricing structure, maximize revenue, and identify opportunities for upselling or cross-selling.

Customer service improvements

Primary market research enables organizations to gather feedback directly from customers to identify areas for improvement in their customer service processes. By conducting surveys, interviews, or focus groups, businesses can understand customer satisfaction levels, pain points, and expectations. This data allows them to make informed decisions on enhancing customer service, streamlining support channels, improving response times, and developing training programs to deliver a superior customer experience. For example, a telecommunications provider conducting primary research may conduct customer satisfaction surveys and in-depth interviews to identify pain points in their customer service processes. This information can help them improve response times, streamline support channels, and develop training programs for their customer service representatives, resulting in a better overall customer experience and increased customer loyalty.

What are the pros and cons of primary market research?

Pros of primary market research:, customized and relevant data.

Primary research allows researchers to collect data specifically tailored to their research objectives and target audience. This customized approach ensures that the data collected is directly relevant to the research questions and provides specific insights.

Control over data collection

With primary research, researchers have control over the data collection process, including the choice of research methods, survey design, sample selection, and data collection techniques. This control helps maintain data quality and reliability.

Real-time and current insights

Primary research captures data in real-time, providing up-to-date insights into consumer behavior, market trends, and preferences. This current information enables researchers and businesses to make informed decisions based on the latest data.

Greater depth and detail

Primary research allows researchers to delve deeper into the subject matter, uncovering nuances and obtaining more detailed information. It provides a comprehensive understanding of consumer behaviors, motivations, and preferences.

Uncovering new insights

Primary research can uncover new insights that may not be available through secondary research. It allows researchers to explore uncharted areas, discover emerging trends, and generate unique findings that can lead to innovation and competitive advantage.

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Cons of Primary Market Research:

Time-consuming and costly.

Primary research can be time-consuming and expensive compared to secondary research. It requires resources for designing research instruments, data collection, data analysis, and report generation. The costs associated with primary research can be a significant constraint, especially for small businesses or research projects with limited budgets.

Potential sampling bias

The accuracy and reliability of primary research findings can be influenced by sampling bias. If the sample selected for data collection is not representative of the target population, it can lead to skewed results and affect the generalizability of the findings.

Limited scope and sample size

Primary research typically involves a smaller sample size compared to secondary research, which may limit the generalizability of the findings. The data collected may not represent the entire population or market, and researchers need to carefully consider the sample's representativeness.

Data collection challenges

Primary research may face challenges during data collection, such as low response rates, participant bias, or difficulties in recruiting participants. These challenges can impact the quality and reliability of the collected data.

Researcher bias and influence

Researchers conducting primary research may introduce bias consciously or unconsciously. Biases can arise from question wording, interviewers' behavior, or researcher interpretations, potentially influencing the findings and compromising objectivity.

Limited historical data

Unlike secondary research, which can analyze historical data, primary research primarily focuses on current information. This limitation restricts the ability to study long-term trends or make historical comparisons.

Ethical considerations

Primary research involves interacting directly with participants, and ethical considerations, such as informed consent, privacy, and confidentiality, need to be carefully addressed to protect participants' rights and ensure ethical research practices.

Ways to do primary market research

Surveys are a popular method for collecting data from consumers. They involve structured questionnaires that can be administered through online platforms, email, or in-person interviews. Surveys allow researchers to gather quantitative data on consumer preferences, behaviors, satisfaction levels, and demographic information. They can be used to measure brand awareness, gather feedback on products or services, or assess consumer attitudes towards specific topics.

Interviews provide an opportunity for in-depth conversations with consumers. They can be conducted in-person, over the phone, or through video calls. Interviews allow researchers to explore consumer motivations, perceptions, and experiences in more detail. This method is particularly useful for qualitative research, where open-ended questions can elicit rich insights and uncover underlying factors that drive consumer behavior.

Focus groups

Focus groups bring together a small group of consumers (typically 6-10) to discuss specific topics under the guidance of a moderator. This method encourages group interaction, allowing participants to share their opinions, ideas, and experiences. Focus groups can provide deeper insights into consumer preferences, attitudes, and perceptions. They are often used to explore new product concepts, evaluate advertising campaigns, or test reactions to prototypes.

Observational research

Observational research involves directly observing and documenting consumer behavior in real-world settings. This method allows researchers to study consumers in their natural environments, such as retail stores, websites, or public spaces. Observations can be done discreetly or with the participant's knowledge, depending on the research goals. This approach provides valuable insights into actual consumer behaviors, decision-making processes, and interactions with products or services.

Online communities and social media listening

Online communities and social media platforms offer opportunities for consumer research. Online communities allow researchers to engage with consumers in a virtual space, where they can share opinions, participate in discussions, and provide feedback on specific topics. Social media listening involves monitoring and analyzing conversations happening on social media platforms. By tapping into online communities and social media, researchers can gather real-time insights, track consumer sentiment, and identify emerging trends.

Experiments and A/B testing

Experiments involve manipulating variables to test hypotheses and measure the impact on consumer behavior. A/B testing, also known as split testing, is a method where two or more versions of a product, advertisement, or website are presented to different groups of consumers to determine which performs better. Experiments and A/B testing provide quantitative data and help researchers understand cause-and-effect relationships, optimize designs, and evaluate the effectiveness of marketing strategies.

Product testing

Product testing is a method of primary research where consumers are given the opportunity to try out new products and provide feedback on their performance, features, and preferences. It is a valuable approach for consumer research companies to gather insights on product usability, functionality, desirability, and overall satisfaction. It typically involves selecting a group of participants who represent the target market for the product. These participants are provided with the product, often before its official launch, and are instructed to use it in their daily lives or according to specific usage scenarios. They may be asked to provide feedback through surveys, interviews, or online platforms, sharing their experiences, likes, dislikes, and suggestions for improvement.

In conclusion

By leveraging primary research effectively, consumer research companies can unlock the secrets of their target audience, develop products and services that resonate with customers, and create exceptional customer experiences. With the help of tools like Decode, you can conduct primary research even more efficiently, thanks to our qual and quant research methods help you collect consumer insights directly from the source, with a pool of 60 million respondents to choose from.

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How to Do Market Research: The Complete Guide

Learn how to do market research with this step-by-step guide, complete with templates, tools and real-world examples.

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What are your customers’ needs? How does your product compare to the competition? What are the emerging trends and opportunities in your industry? If these questions keep you up at night, it’s time to conduct market research.

Market research plays a pivotal role in your ability to stay competitive and relevant, helping you anticipate shifts in consumer behavior and industry dynamics. It involves gathering these insights using a wide range of techniques, from surveys and interviews to data analysis and observational studies.

In this guide, we’ll explore why market research is crucial, the various types of market research, the methods used in data collection, and how to effectively conduct market research to drive informed decision-making and success.

What is market research?

Market research is the systematic process of gathering, analyzing and interpreting information about a specific market or industry. The purpose of market research is to offer valuable insight into the preferences and behaviors of your target audience, and anticipate shifts in market trends and the competitive landscape. This information helps you make data-driven decisions, develop effective strategies for your business, and maximize your chances of long-term growth.

Why is market research important? 

By understanding the significance of market research, you can make sure you’re asking the right questions and using the process to your advantage. Some of the benefits of market research include:

• Informed decision-making: Market research provides you with the data and insights you need to make smart decisions for your business. It helps you identify opportunities, assess risks and tailor your strategies to meet the demands of the market. Without market research, decisions are often based on assumptions or guesswork, leading to costly mistakes.
• Customer-centric approach: A cornerstone of market research involves developing a deep understanding of customer needs and preferences. This gives you valuable insights into your target audience, helping you develop products, services and marketing campaigns that resonate with your customers.
• Competitive advantage: By conducting market research, you’ll gain a competitive edge. You’ll be able to identify gaps in the market, analyze competitor strengths and weaknesses, and position your business strategically. This enables you to create unique value propositions, differentiate yourself from competitors, and seize opportunities that others may overlook.
• Risk mitigation: Market research helps you anticipate market shifts and potential challenges. By identifying threats early, you can proactively adjust their strategies to mitigate risks and respond effectively to changing circumstances. This proactive approach is particularly valuable in volatile industries.
• Resource optimization: Conducting market research allows organizations to allocate their time, money and resources more efficiently. It ensures that investments are made in areas with the highest potential return on investment, reducing wasted resources and improving overall business performance.
• Adaptation to market trends: Markets evolve rapidly, driven by technological advancements, cultural shifts and changing consumer attitudes. Market research ensures that you stay ahead of these trends and adapt your offerings accordingly so you can avoid becoming obsolete. 

As you can see, market research empowers businesses to make data-driven decisions, cater to customer needs, outperform competitors, mitigate risks, optimize resources and stay agile in a dynamic marketplace. These benefits make it a huge industry; the global market research services market is expected to grow from $76.37 billion in 2021 to $108.57 billion in 2026 . Now, let’s dig into the different types of market research that can help you achieve these benefits.

Types of market research 

• Qualitative research
• Quantitative research
• Exploratory research
• Descriptive research
• Causal research
• Cross-sectional research
• Longitudinal research

Despite its advantages, 23% of organizations don’t have a clear market research strategy. Part of developing a strategy involves choosing the right type of market research for your business goals. The most commonly used approaches include:

1. Qualitative research

Qualitative research focuses on understanding the underlying motivations, attitudes and perceptions of individuals or groups. It is typically conducted through techniques like in-depth interviews, focus groups and content analysis — methods we’ll discuss further in the sections below. Qualitative research provides rich, nuanced insights that can inform product development, marketing strategies and brand positioning.

2. Quantitative research

Quantitative research, in contrast to qualitative research, involves the collection and analysis of numerical data, often through surveys, experiments and structured questionnaires. This approach allows for statistical analysis and the measurement of trends, making it suitable for large-scale market studies and hypothesis testing. While it’s worthwhile using a mix of qualitative and quantitative research, most businesses prioritize the latter because it is scientific, measurable and easily replicated across different experiments.

3. Exploratory research

Whether you’re conducting qualitative or quantitative research or a mix of both, exploratory research is often the first step. Its primary goal is to help you understand a market or problem so you can gain insights and identify potential issues or opportunities. This type of market research is less structured and is typically conducted through open-ended interviews, focus groups or secondary data analysis. Exploratory research is valuable when entering new markets or exploring new product ideas.

4. Descriptive research

As its name implies, descriptive research seeks to describe a market, population or phenomenon in detail. It involves collecting and summarizing data to answer questions about audience demographics and behaviors, market size, and current trends. Surveys, observational studies and content analysis are common methods used in descriptive research. 

5. Causal research

Causal research aims to establish cause-and-effect relationships between variables. It investigates whether changes in one variable result in changes in another. Experimental designs, A/B testing and regression analysis are common causal research methods. This sheds light on how specific marketing strategies or product changes impact consumer behavior.

6. Cross-sectional research

Cross-sectional market research involves collecting data from a sample of the population at a single point in time. It is used to analyze differences, relationships or trends among various groups within a population. Cross-sectional studies are helpful for market segmentation, identifying target audiences and assessing market trends at a specific moment.

7. Longitudinal research

Longitudinal research, in contrast to cross-sectional research, collects data from the same subjects over an extended period. This allows for the analysis of trends, changes and developments over time. Longitudinal studies are useful for tracking long-term developments in consumer preferences, brand loyalty and market dynamics.

Each type of market research has its strengths and weaknesses, and the method you choose depends on your specific research goals and the depth of understanding you’re aiming to achieve. In the following sections, we’ll delve into primary and secondary research approaches and specific research methods.

Primary vs. secondary market research

Market research of all types can be broadly categorized into two main approaches: primary research and secondary research. By understanding the differences between these approaches, you can better determine the most appropriate research method for your specific goals.

Primary market research 

Primary research involves the collection of original data straight from the source. Typically, this involves communicating directly with your target audience — through surveys, interviews, focus groups and more — to gather information. Here are some key attributes of primary market research:

• Customized data: Primary research provides data that is tailored to your research needs. You design a custom research study and gather information specific to your goals.
• Up-to-date insights: Because primary research involves communicating with customers, the data you collect reflects the most current market conditions and consumer behaviors.
• Time-consuming and resource-intensive: Despite its advantages, primary research can be labor-intensive and costly, especially when dealing with large sample sizes or complex study designs. Whether you hire a market research consultant, agency or use an in-house team, primary research studies consume a large amount of resources and time.

Secondary market research 

Secondary research, on the other hand, involves analyzing data that has already been compiled by third-party sources, such as online research tools, databases, news sites, industry reports and academic studies.

Here are the main characteristics of secondary market research:

• Cost-effective: Secondary research is generally more cost-effective than primary research since it doesn’t require building a research plan from scratch. You and your team can look at databases, websites and publications on an ongoing basis, without needing to design a custom experiment or hire a consultant. 
• Leverages multiple sources: Data tools and software extract data from multiple places across the web, and then consolidate that information within a single platform. This means you’ll get a greater amount of data and a wider scope from secondary research.
• Quick to access: You can access a wide range of information rapidly — often in seconds — if you’re using online research tools and databases. Because of this, you can act on insights sooner, rather than taking the time to develop an experiment. 

So, when should you use primary vs. secondary research? In practice, many market research projects incorporate both primary and secondary research to take advantage of the strengths of each approach.

One rule of thumb is to focus on secondary research to obtain background information, market trends or industry benchmarks. It is especially valuable for conducting preliminary research, competitor analysis, or when time and budget constraints are tight. Then, if you still have knowledge gaps or need to answer specific questions unique to your business model, use primary research to create a custom experiment. 

Market research methods

• Surveys and questionnaires
• Focus groups
• Observational research
• Online research tools
• Experiments
• Content analysis
• Ethnographic research

How do primary and secondary research approaches translate into specific research methods? Let’s take a look at the different ways you can gather data: 

1. Surveys and questionnaires

Surveys and questionnaires are popular methods for collecting structured data from a large number of respondents. They involve a set of predetermined questions that participants answer. Surveys can be conducted through various channels, including online tools, telephone interviews and in-person or online questionnaires. They are useful for gathering quantitative data and assessing customer demographics, opinions, preferences and needs. On average, customer surveys have a 33% response rate , so keep that in mind as you consider your sample size.

2. Interviews

Interviews are in-depth conversations with individuals or groups to gather qualitative insights. They can be structured (with predefined questions) or unstructured (with open-ended discussions). Interviews are valuable for exploring complex topics, uncovering motivations and obtaining detailed feedback. 

3. Focus groups

The most common primary research methods are in-depth webcam interviews and focus groups. Focus groups are a small gathering of participants who discuss a specific topic or product under the guidance of a moderator. These discussions are valuable for primary market research because they reveal insights into consumer attitudes, perceptions and emotions. Focus groups are especially useful for idea generation, concept testing and understanding group dynamics within your target audience.

4. Observational research

Observational research involves observing and recording participant behavior in a natural setting. This method is particularly valuable when studying consumer behavior in physical spaces, such as retail stores or public places. In some types of observational research, participants are aware you’re watching them; in other cases, you discreetly watch consumers without their knowledge, as they use your product. Either way, observational research provides firsthand insights into how people interact with products or environments.

5. Online research tools

You and your team can do your own secondary market research using online tools. These tools include data prospecting platforms and databases, as well as online surveys, social media listening, web analytics and sentiment analysis platforms. They help you gather data from online sources, monitor industry trends, track competitors, understand consumer preferences and keep tabs on online behavior. We’ll talk more about choosing the right market research tools in the sections that follow.

6. Experiments

Market research experiments are controlled tests of variables to determine causal relationships. While experiments are often associated with scientific research, they are also used in market research to assess the impact of specific marketing strategies, product features, or pricing and packaging changes.

7. Content analysis

Content analysis involves the systematic examination of textual, visual or audio content to identify patterns, themes and trends. It’s commonly applied to customer reviews, social media posts and other forms of online content to analyze consumer opinions and sentiments.

8. Ethnographic research

Ethnographic research immerses researchers into the daily lives of consumers to understand their behavior and culture. This method is particularly valuable when studying niche markets or exploring the cultural context of consumer choices.

How to do market research

• Set clear objectives
• Identify your target audience
• Choose your research methods
• Use the right market research tools
• Collect data
• Analyze data 
• Interpret your findings
• Identify opportunities and challenges
• Make informed business decisions
• Monitor and adapt

Now that you have gained insights into the various market research methods at your disposal, let’s delve into the practical aspects of how to conduct market research effectively. Here’s a quick step-by-step overview, from defining objectives to monitoring market shifts.

1. Set clear objectives

When you set clear and specific goals, you’re essentially creating a compass to guide your research questions and methodology. Start by precisely defining what you want to achieve. Are you launching a new product and want to understand its viability in the market? Are you evaluating customer satisfaction with a product redesign? 

Start by creating SMART goals — objectives that are specific, measurable, achievable, relevant and time-bound. Not only will this clarify your research focus from the outset, but it will also help you track progress and benchmark your success throughout the process. 

You should also consult with key stakeholders and team members to ensure alignment on your research objectives before diving into data collecting. This will help you gain diverse perspectives and insights that will shape your research approach.

2. Identify your target audience

Next, you’ll need to pinpoint your target audience to determine who should be included in your research. Begin by creating detailed buyer personas or stakeholder profiles. Consider demographic factors like age, gender, income and location, but also delve into psychographics, such as interests, values and pain points.

The more specific your target audience, the more accurate and actionable your research will be. Additionally, segment your audience if your research objectives involve studying different groups, such as current customers and potential leads.

If you already have existing customers, you can also hold conversations with them to better understand your target market. From there, you can refine your buyer personas and tailor your research methods accordingly.

3. Choose your research methods

Selecting the right research methods is crucial for gathering high-quality data. Start by considering the nature of your research objectives. If you’re exploring consumer preferences, surveys and interviews can provide valuable insights. For in-depth understanding, focus groups or observational research might be suitable. Consider using a mix of quantitative and qualitative methods to gain a well-rounded perspective. 

You’ll also need to consider your budget. Think about what you can realistically achieve using the time and resources available to you. If you have a fairly generous budget, you may want to try a mix of primary and secondary research approaches. If you’re doing market research for a startup , on the other hand, chances are your budget is somewhat limited. If that’s the case, try addressing your goals with secondary research tools before investing time and effort in a primary research study. 

4. Use the right market research tools

Whether you’re conducting primary or secondary research, you’ll need to choose the right tools. These can help you do anything from sending surveys to customers to monitoring trends and analyzing data. Here are some examples of popular market research tools:

• Market research software: Crunchbase is a platform that provides best-in-class company data, making it valuable for market research on growing companies and industries. You can use Crunchbase to access trusted, first-party funding data, revenue data, news and firmographics, enabling you to monitor industry trends and understand customer needs.

• Survey and questionnaire tools: SurveyMonkey is a widely used online survey platform that allows you to create, distribute and analyze surveys. Google Forms is a free tool that lets you create surveys and collect responses through Google Drive.
• Data analysis software: Microsoft Excel and Google Sheets are useful for conducting statistical analyses. SPSS is a powerful statistical analysis software used for data processing, analysis and reporting.
• Social listening tools: Brandwatch is a social listening and analytics platform that helps you monitor social media conversations, track sentiment and analyze trends. Mention is a media monitoring tool that allows you to track mentions of your brand, competitors and keywords across various online sources.
• Data visualization platforms: Tableau is a data visualization tool that helps you create interactive and shareable dashboards and reports. Power BI by Microsoft is a business analytics tool for creating interactive visualizations and reports.

5. Collect data

There’s an infinite amount of data you could be collecting using these tools, so you’ll need to be intentional about going after the data that aligns with your research goals. Implement your chosen research methods, whether it’s distributing surveys, conducting interviews or pulling from secondary research platforms. Pay close attention to data quality and accuracy, and stick to a standardized process to streamline data capture and reduce errors. 

6. Analyze data

Once data is collected, you’ll need to analyze it systematically. Use statistical software or analysis tools to identify patterns, trends and correlations. For qualitative data, employ thematic analysis to extract common themes and insights. Visualize your findings with charts, graphs and tables to make complex data more understandable.

If you’re not proficient in data analysis, consider outsourcing or collaborating with a data analyst who can assist in processing and interpreting your data accurately.

7. Interpret your findings

Interpreting your market research findings involves understanding what the data means in the context of your objectives. Are there significant trends that uncover the answers to your initial research questions? Consider the implications of your findings on your business strategy. It’s essential to move beyond raw data and extract actionable insights that inform decision-making.

Hold a cross-functional meeting or workshop with relevant team members to collectively interpret the findings. Different perspectives can lead to more comprehensive insights and innovative solutions.

8. Identify opportunities and challenges

Use your research findings to identify potential growth opportunities and challenges within your market. What segments of your audience are underserved or overlooked? Are there emerging trends you can capitalize on? Conversely, what obstacles or competitors could hinder your progress?

Lay out this information in a clear and organized way by conducting a SWOT analysis, which stands for strengths, weaknesses, opportunities and threats. Jot down notes for each of these areas to provide a structured overview of gaps and hurdles in the market.

9. Make informed business decisions

Market research is only valuable if it leads to informed decisions for your company. Based on your insights, devise actionable strategies and initiatives that align with your research objectives. Whether it’s refining your product, targeting new customer segments or adjusting pricing, ensure your decisions are rooted in the data.

At this point, it’s also crucial to keep your team aligned and accountable. Create an action plan that outlines specific steps, responsibilities and timelines for implementing the recommendations derived from your research. 

10. Monitor and adapt

Market research isn’t a one-time activity; it’s an ongoing process. Continuously monitor market conditions, customer behaviors and industry trends. Set up mechanisms to collect real-time data and feedback. As you gather new information, be prepared to adapt your strategies and tactics accordingly. Regularly revisiting your research ensures your business remains agile and reflects changing market dynamics and consumer preferences.

Online market research sources

As you go through the steps above, you’ll want to turn to trusted, reputable sources to gather your data. Here’s a list to get you started:

• Crunchbase: As mentioned above, Crunchbase is an online platform with an extensive dataset, allowing you to access in-depth insights on market trends, consumer behavior and competitive analysis. You can also customize your search options to tailor your research to specific industries, geographic regions or customer personas.

• Academic databases: Academic databases, such as ProQuest and JSTOR , are treasure troves of scholarly research papers, studies and academic journals. They offer in-depth analyses of various subjects, including market trends, consumer preferences and industry-specific insights. Researchers can access a wealth of peer-reviewed publications to gain a deeper understanding of their research topics.
• Government and NGO databases: Government agencies, nongovernmental organizations and other institutions frequently maintain databases containing valuable economic, demographic and industry-related data. These sources offer credible statistics and reports on a wide range of topics, making them essential for market researchers. Examples include the U.S. Census Bureau , the Bureau of Labor Statistics and the Pew Research Center .
• Industry reports: Industry reports and market studies are comprehensive documents prepared by research firms, industry associations and consulting companies. They provide in-depth insights into specific markets, including market size, trends, competitive analysis and consumer behavior. You can find this information by looking at relevant industry association databases; examples include the American Marketing Association and the National Retail Federation .
• Social media and online communities: Social media platforms like LinkedIn or Twitter (X) , forums such as Reddit and Quora , and review platforms such as G2 can provide real-time insights into consumer sentiment, opinions and trends. 

Market research examples

At this point, you have market research tools and data sources — but how do you act on the data you gather? Let’s go over some real-world examples that illustrate the practical application of market research across various industries. These examples showcase how market research can lead to smart decision-making and successful business decisions.

Example 1: Apple’s iPhone launch

Apple ’s iconic iPhone launch in 2007 serves as a prime example of market research driving product innovation in tech. Before the iPhone’s release, Apple conducted extensive market research to understand consumer preferences, pain points and unmet needs in the mobile phone industry. This research led to the development of a touchscreen smartphone with a user-friendly interface, addressing consumer demands for a more intuitive and versatile device. The result was a revolutionary product that disrupted the market and redefined the smartphone industry.

Example 2: McDonald’s global expansion

McDonald’s successful global expansion strategy demonstrates the importance of market research when expanding into new territories. Before entering a new market, McDonald’s conducts thorough research to understand local tastes, preferences and cultural nuances. This research informs menu customization, marketing strategies and store design. For instance, in India, McDonald’s offers a menu tailored to local preferences, including vegetarian options. This market-specific approach has enabled McDonald’s to adapt and thrive in diverse global markets.

Example 3: Organic and sustainable farming

The shift toward organic and sustainable farming practices in the food industry is driven by market research that indicates increased consumer demand for healthier and environmentally friendly food options. As a result, food producers and retailers invest in sustainable sourcing and organic product lines — such as with these sustainable seafood startups — to align with this shift in consumer values. 

The bottom line? Market research has multiple use cases and is a critical practice for any industry. Whether it’s launching groundbreaking products, entering new markets or responding to changing consumer preferences, you can use market research to shape successful strategies and outcomes.

Market research templates

You finally have a strong understanding of how to do market research and apply it in the real world. Before we wrap up, here are some market research templates that you can use as a starting point for your projects:

• Smartsheet competitive analysis templates : These spreadsheets can serve as a framework for gathering information about the competitive landscape and obtaining valuable lessons to apply to your business strategy.
• SurveyMonkey product survey template : Customize the questions on this survey based on what you want to learn from your target customers.
• HubSpot templates : HubSpot offers a wide range of free templates you can use for market research, business planning and more.
• SCORE templates : SCORE is a nonprofit organization that provides templates for business plans, market analysis and financial projections.
• SBA.gov : The U.S. Small Business Administration offers templates for every aspect of your business, including market research, and is particularly valuable for new startups. 

Strengthen your business with market research

When conducted effectively, market research is like a guiding star. Equipped with the right tools and techniques, you can uncover valuable insights, stay competitive, foster innovation and navigate the complexities of your industry.

Throughout this guide, we’ve discussed the definition of market research, different research methods, and how to conduct it effectively. We’ve also explored various types of market research and shared practical insights and templates for getting started. 

Now, it’s time to start the research process. Trust in data, listen to the market and make informed decisions that guide your company toward lasting success.

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What Is a Primary Market?

Understanding primary markets, types of primary market issues.

• Private Placement & Primary Market
• Primary vs. Secondary Market

Types of Secondary Markets

Examples of primary markets.

• Primary Market FAQs

The Bottom Line

Primary market: definition, types, examples, and secondary.

James Chen, CMT is an expert trader, investment adviser, and global market strategist.

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University.

Investopedia / Ryan Oakley

A primary market is a source of new securities. Often on an exchange, it's where companies, governments, and other groups go to obtain financing through debt-based or equity-based securities. Primary markets are facilitated by underwriting groups consisting of investment banks that set a beginning price range for a given security and oversee its sale to investors.

Once the initial sale is complete, further trading is conducted on the secondary market , where the bulk of exchange trading occurs each day.

Key Takeaways

• In the primary market, new stocks and bonds are sold to the public for the first time.
• In a primary market, investors are able to purchase securities directly from the issuer.
• Types of primary market issues include an initial public offering (IPO), a private placement, a rights issue, and a preferred allotment.
• Stock exchanges instead represent secondary markets, where investors buy and sell from one another.
• After they’ve been issued on the primary market, securities are traded between investors on what is called the secondary market—essentially, the familiar stock exchanges.

The primary market is where securities are created. It's in this market that firms sell or float (in finance lingo) new stocks and bonds to the public for the first time during the primary distribution . 

Companies and government entities sell new issues of common and preferred stock, corporate bonds, and government bonds, notes, and bills on the primary market to fund business improvements or expand operations. Although an investment bank may set the securities' initial price and receive a fee for facilitating sales, most of the money raised from the sales goes to the issuer.

The primary market isn't a physical place; it reflects more the nature of the goods. The key defining characteristic of a primary market is that securities on it are purchased directly from an  issuer —as opposed to being bought from a previous purchaser or investor, "second-hand" so to speak.

Investors typically pay less for securities on the primary market than on the secondary market.

All issues on the primary market are subject to strict regulation. Companies must file statements with the  Securities and Exchange Commission (SEC) and other securities agencies and must wait until their filings are approved before they can offer them for sale to investors.

After the initial offering is completed—that is, all the stock shares or bonds are sold—that primary market closes. Those securities then start trading on the secondary market.

An  initial public offering , or IPO, is an example of a security issued on a primary market. An IPO occurs when a private company sells shares of stock to the public for the first time, a process known as " going public ." The process, including the original price of the new shares, is set by a designated investment bank, hired by the company to do the initial underwriting for a particular stock. 

For example, company ABCWXYZ Inc. hires five underwriting firms to determine the financial details of its IPO. The underwriters detail that the issue price of the stock will be $15. Investors can then buy the IPO at this price directly from the issuing company. This is the first opportunity that investors have to contribute capital to a company through the purchase of its stock. A company's equity capital is comprised of the funds generated by the sale of stock on the primary market.

A  rights offering (issue)   permits companies to raise additional equity through the primary market after already having securities enter the secondary market. Current investors are offered prorated rights based on the shares they currently own, and others can invest anew in newly minted shares.

Private Placement and Primary Market

Other types of primary market offerings for stocks include private placement and preferential allotment. Private placement allows companies to sell directly to more significant investors such as hedge funds and banks without making shares publicly available. Preferential allotment offers shares to select investors (usually hedge funds, banks, and mutual funds) at a special price not available to the general public.

Similarly, businesses and governments that want to generate debt capital can choose to issue new short- and long-term bonds on the primary market. New bonds are issued with coupon rates that correspond to the current interest rates at the time of issuance, which may be higher or lower than those offered by pre-existing bonds.

Primary Market vs. Secondary Market

The primary market refers to the market where securities are created and first issued, while the secondary market is one in which they are traded afterward among investors.

Primary Market

Take, for example, U.S. Treasuries—the bonds, bills, and notes issued by the U.S. government. The Dept. of the Treasury announces new issues  of these debt securities at periodic intervals and sells them at auctions , which are held multiple times throughout the year. This is an example of the primary market in action.

Individual investors can buy newly issued U.S. Treasuries directly from the government via TreasuryDirect , an electronic marketplace and online account system. This can save them money on brokerage commissions and other middleman fees.

Secondary Market

Now, let's say some of the investors who bought some of the government's bonds or bills at these auctions—they're usually institutional investors, like brokerages, banks, pension funds, or investment funds—want to sell them. They offer them on stock exchanges or markets like the NYSE, Nasdaq, or over-the-counter (OTC), where other investors can buy them. These U.S. Treasuries are now on the secondary market.

With equities, the distinction between primary and secondary markets can seem a little cloudier. Essentially, the secondary market is what's commonly referred to as "the stock market," the stock exchanges where investors buy and sell shares from one another. But in fact, a stock exchange can be the site of both a primary and secondary market.

For example, when a company makes its public debut on the New York Stock Exchange (NYSE), the first offering of its new shares constitutes a primary market. The shares that trade afterward, with their prices daily listed on the NYSE, are part of the secondary market.

Secondary markets are further divided into two types:

• An auction market, an open outcry system where buyers and sellers congregate in one location and announce the prices at which they are willing to buy and sell their securities
• A dealer market, in which participants in the market are joined through electronic networks. The dealers hold an inventory of security, then stand ready to buy or sell with market participants.

The key distinction between primary and secondary markets: the seller or source of the securities. In a primary market, it's the issuer of the shares or bonds or whatever the asset is. In a secondary market, it's another investor or owner. When you buy a security on the primary market, you're buying a new issue directly from the issuer, and it's a one-time transaction. When you buy a security on the secondary market, the original issuer of that security—be it a company or a government—doesn't take any part and doesn't share in the proceeds.

In short, securities are bought on the primary market. They trade on the secondary market.

In June 2017, the Republic of Argentina announced it was selling $2.75 billion worth of debt in a two-part U.S. dollar bond sale. Funding was going toward liability management purposes. Joint underwriters included Morgan Stanley, Bank of America, Merrill Lynch, Deutsche Bank, and Credit Suisse. It marked the first time a junk-rated government—Argentina had only returned to the debt markets the previous year after massive defaults had barred it for a while—offered century bonds (which mature in 100 years).

Facebook’s Initial Public Offering

Facebook's ( META ), now Meta, initial public offering in 2012 was, at the time, the largest IPO of an online company and the largest IPOs in the technology sector in US history. Expectations were high: Many investors believed the stock's value would very quickly increase on the secondary market due to the company's popularity and rapid success. Because of high demand in the primary market, underwriters priced the stock at $38 per share, at the top of the targeted $35-38 range, and raised the stock offering level by 25% to 421 million shares. The stock valuation became $104 billion, the largest of any newly public company.

Although Facebook raised $16 billion through the primary market, the stock did not greatly increase in value the day of the IPO: It closed at $38.23 after 460 million shares were sold and turnover exceeded 100%. Facebook actually went significantly lower later in 2012, hitting an all-time low of $17.73 on Sept. 4, 2012.

But it recovered, thanks partly to the company's heavy focus on its mobile platform.

If you invested $10,000 in the company at its IPO, you would have received 263 shares of Facebook  common stock . As of February 23 , 2024, those shares were selling for $484 a piece, making your investment worth $127,292. In retrospect, that primary market purchase of $38 per share seems like quite a discount.

What Is the Primary Market and Secondary Market?

Both the primary market and the secondary market are aspects of a capitalist financial system, in which money is raised by the buying and selling of securities—financial assets like stocks and bonds. New securities are issued (created) and sold to investors for the first time in the primary market. Thereafter, investors trade these securities on the secondary market.

The primary market is also known as the new issues market. The secondary market is what we commonly think of as the stock market or stock exchange.

What Are the Types of Primary Markets?

There's a primary market for just about every sort of financial asset out there. The biggest ones are the primary stock market, the primary bond market, and the primary mortgage market.

The most common type of primary market issues include:

• Initial public offering (IPO): when a company issues shares of stock to the public for the first time
• Rights issue/offering: an offer to the company’s current stockholders to buy additional new shares at a discount.
• Private placement: an issue of company stock shares to an individual person, corporate entity, or a small group of investors—usually institutional or accredited ones—as opposed to being issued in the public marketplace.
• Preferential allotment: shares offered to a particular group at a special or discounted price, different from the publicly traded share price

What Is the Role of the Primary Market?

The primary market is like a debutante ball or a wedding: It marks the launch of a new security—a corporate stock shares or a bond—into the financial marketplace. Primary markets enable companies and governments to attract investors and raise money—to pay debts or to expand. They also enable investors with assets to put their money into, to generate income, or get in on the ground floor of a promising young venture.

What Is the Primary Market and Secondary Market in India?

The primary and secondary markets in India function as they do anywhere:   In the primary market, the investor purchases shares or bonds directly from a company in a one-time transaction; in the Secondary Market, investors buy and sell the stocks and bonds among themselves, and can do so an infinite number of times.

In India, when companies wish to go public and establish a primary market for their shares, they must get approval from the Securities and Exchange Board of India (SEBI), the equivalent of the SEC in the U.S.

The secondary market in India includes the BSE Limited (BSE), and the National Stock Exchange (NSE)—the Subcontinent's two most widely traded exchanges.

A primary market is a figurative place where securities make their debut—where new bonds and shares of corporate stock are issued to be sold to investors for the first time. They are sold by the companies, governments, or other entities issuing them, often with the help of investment banks, who underwrite the new issues, setting their price and overseeing their launch.

There is a primary market for most types of assets, with equities (stocks) and bonds being the most common. And there are several different types of primary market issues. The most familiar are IPOs. Others include private placements and rights offerings.

Most primary market buyers are institutional investors, though individual investors can get easily get in on certain offerings, like new US Treasury bonds.

After they’ve been issued on the primary market, existing shares of stock, bonds, and other securities are traded between investors on what is called the secondary market—essentially, the familiar stock exchanges and stock markets.

TreasuryDirect. " Treasury Bonds ."

The Wall Street Journal. " Argentina Sells $2.75 Billion of 100-Year Bonds ."

U.S. Security and Exchange Commission. " Prospectus-Facebook-Class A Common Stock ."

History. " Facebook Launches ."

Nasdaq. " FB Historical Data ."

Securities and Exchange Board of India. " Home Page ."

National Stock Exchange of India Ltd. " Home Page ."

BSE Limited. " Home Page ."

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» Primary vs Secondary Market Research: Types, Sources, and Examples

Market research is critical for businesses to learn about trends and consumer behavior. It also helps organisations make critical decisions, identify new opportunities, identify competitors, and improve their offerings. The achievement of business objectives is the primary criterion for successful market research. Key objectives include increasing the company’s market reputation, improving product performance, and gauging customer reactions to price changes or new market developments.

What exactly is primary research?

Primary market research is a method for determining the viability of a product or service based on information gathered directly from the source — potential customers. Primary market research is conducted from the ground up, rather than relying on previously worked research.

In-person interviews, focus groups, surveys, product trials, product testing, and direct observations are all standard methods of conducting primary market research. Marketers typically conduct primary research to address a specific issue that necessitates in-depth analysis.

Types of primary research

Quantitative market research:  Rather than focusing on consumers’ feelings, opinions, and attitudes, quantitative market research focuses on numerical data. The procedure entails gathering a large number of statistical points via surveys, polls, and questionnaires. The mathematical, statistical, and computational methods allow researchers to collect data that can then be analysed to determine patterns and averages, make predictions, and make generalisations. The goal of quantitative market research is to identify and understand the problem. Quantitative market research can provide highly accurate results, allowing businesses to develop a clear picture of their goals and how to achieve them.

Qualitative market research:  To gain insights into consumer opinions, motivations, or experiences, qualitative market research collects behavioral, observational, and non-numerical data such as audio, text, or video. Open-ended questions and a small sample size of six to ten respondents are used in qualitative market research, allowing for an in-depth discussion of the topics. Focus groups and interviews are the most common methods for conducting qualitative market research.

Primary research sources

In-depth interviews, surveys, focus groups, social media monitoring, and questionnaires are primary research sources. Let’s go over them in more detail below:

In-depth interviews are excellent for learning how a specific customer group perceives a brand or product. In-depth interviews are usually interactive and have a flexible structure. A trusted moderator conducts these interviews, taking into account not only the respondent’s answers but also body language and overall impression.

Surveys aid in the collection of a large amount of information about the characteristics and preferences of the population. Marketers will be able to use this data in the future to predict consumer behavior.

Focus groups are interviews with selected participants who represent the target audience. Participants in the group are chosen based on specific criteria such as location, age, socioeconomic status, and so on.

Questionnaires are a type of research tool that consists of a series of closed-ended or open-ended questions designed to elicit feedback from your customers. There are various types of questionnaires, including computer, telephone, and mail questionnaires.

Hypothesis testing for existing products via A/B or multivariate testing allows for examining prices for different markets or audiences, comparing web page design and conversion effectiveness, and so on. Although the core mechanisms of both methods are similar, multivariate testing compares a greater number of variables and provides more information.

Targeted social media monitoring aids in the discovery of information about your company, industry, and competitors. This data includes any and all mentions of your brand, such as product reviews, product questions, or service repair complaints.

What exactly is secondary research?

Secondary market research is a type of market research that uses data from secondary sources that were not previously prepared specifically for the purposes of the current study. In other words, in secondary research, marketers collect and analyse previously collected data for purposes other than their research. Secondary data is frequently obtained from industry and trade associations, government agencies, media outlets, industry-specific newsletters, magazines, and newspapers. This type of research is typically less expensive and more accessible than primary market research.

Secondary research types

Secondary market research is classified into two types: internal secondary market research and external secondary market research.

Internal Data : Internal data can be found in the company’s databases and used for future reference. Customer account information, product usage data, sales records, and previously prepared research reports are examples of internal data. There are also previous advertising and marketing campaign records, departmental records, and so on.

External data  such as data from competitors, journals and magazines, industry surveys, and market reports, is initially prepared by people outside the current company environment.

Secondary research sources

Secondary research, like primary research, may draw on a variety of information sources. Some of the most common are listed below.

Secondary market research can benefit greatly from sales data. Every business collects data on daily operations, delivered orders, invoices, and returned goods. This data is useful for marketers because it allows them to gain insights into sales by territory, customer type, average sales per salesperson, prices, discounts, and other data.

Financial information can be used to estimate the efficiency of marketing operations. It includes the costs of manufacturing, storage, transportation, and marketing. It can also provide insights into which products or services generate significant profits for you or drive your business into the red.

Trade associations frequently publish free and paid reports to keep professionals up to date on economic developments.

Specialized journals and media outlets publish news, research, press releases, and professional articles on a regular basis, making them excellent sources of current secondary data.

Specialized research organisations collect commercial marketing research data and resell it to other businesses. These companies collect data on the consumer population, attitudes, trends, and behaviors, as well as online and offline purchases.

The results search engines are a good source of both free and commercially available data.

Competitor analysis. You can learn about competitors from a variety of sources, including their websites, review sites, and media publications. This method allows you to gain a thorough understanding of how market participants and customers perceive a specific company.

Examples of primary and secondary research

If you plan to launch an e-commerce platform or add a new product to an existing store, conducting market research may provide the necessary transparency into this business decision before proceeding. First and foremost, the market size for the business or product must be determined. Then you’ll need a variety of data about statistics and trends in your industry, consumer behavior, and current demand for your product.

Secondary market research methods, as well as digging into industry articles and searching for information from marketing companies about the things people tend to buy online, can be used to discover information about the industry size, trends, and growth rates. Market research reports will be another useful resource.

The next step is to understand your potential customers’ needs, as well as their socioeconomic and geographic circumstances. Primary research and customer surveys are the best ways to obtain this information. Begin by participating in specialised forums, Facebook groups, or other social media channels.

For example, if you are launching an online clothing store, you can use Google Forms, Google Surveys, or TypeForm to conduct an online survey that targets specific customer segments. You can include questions about their age, location, income, favorite brands, and stores where they typically shop for clothing.

You can also use the form to see if any of the customers who were surveyed would be willing to participate in in-depth interviews. Prepare a list of open-ended questions for in-depth interviews to help you discuss with each interviewee.

Primary research methods: customer surveys, questionnaires, and in-depth interviews.

Secondary research methods: industry articles, competitor research, and market research reports.

Author –  Deeksha Khanna

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Home Market Research

Market Research: What it Is, Methods, Types & Examples

Would you like to know why, how, and when to apply market research? Do you want to discover why your consumers are not buying your products? Are you interested in launching a new product, service, or even a new marketing campaign, but you’re not sure what your consumers want?

LEARN ABOUT: Market research vs marketing research

To answer the questions above, you’ll need help from your consumers. But how will you collect that data? In this case and in many other situations in your business, market research is the way to get all the answers you need.

In this ultimate guide about market research, you’ll find the definition, advantages, types of market research, and some examples that will help you understand this type of research. Don’t forget to download the free ebook available at the end of this guide!

LEARN ABOUT: Perceived Value

Content Index

Three key objectives of market research

Why is market research important.

• Types of Market Research: Methods and Examples

Steps for conducting Market Research

Benefits of an efficient market research, 5 market research tips for businesses, why does every business need market research, free market research ebook, what is market research.

Market research is a technique that is used to collect data on any aspect that you want to know to be later able to interpret it and, in the end, make use of it for correct decision-making.

Another more specific definition could be the following:

Market research is the process by which companies seek to collect data systematically to make better decisions. Still, its true value lies in the way in which all the data obtained is used to achieve a better knowledge of the market consumer.

The process of market research can be done through deploying surveys , interacting with a group of people, also known as a sample , conducting interviews, and other similar processes.  

The primary purpose of conducting market research is to understand or examine the market associated with a particular product or service to decide how the audience will react to a product or service. The information obtained from conducting market research can be used to tailor marketing/ advertising activities or determine consumers’ feature priorities/service requirement (if any).

LEARN ABOUT: Consumer Surveys

Conducting research is one of the best ways of achieving customer satisfaction , reducing customer churn and elevating business. Here are the reasons why market research is important and should be considered in any business:

• Valuable information: It provides information and opportunities about the value of existing and new products, thus, helping businesses plan and strategize accordingly.
• Customer-centric: It helps to determine what the customers need and want. Marketing is customer-centric and understanding the customers and their needs will help businesses design products or services that best suit them. Remember that tracing your customer journey is a great way to gain valuable insights into your customers’ sentiments toward your brand.
• Forecasts: By understanding the needs of customers, businesses can also forecast their production and sales. Market research also helps in determining optimum inventory stock.
• Competitive advantage: To stay ahead of competitors market research is a vital tool to carry out comparative studies. Businesses can devise business strategies that can help them stay ahead of their competitors.

LEARN ABOUT: Data Analytics Projects

Types of Market Research: Market Research Methods and Examples

Whether an organization or business wishes to know the purchase behavior of consumers or the likelihood of consumers paying a certain cost for a product segmentation , market research helps in drawing meaningful conclusions.

LEARN ABOUT: Behavioral Targeting

Depending on the methods and tools required, the following are the types:

1. Primary Market Research (A combination of both Qualitative and Quantitative Research):

Primary market research is a process where organizations or businesses get in touch with the end consumers or employ a third party to carry out relevant studies to collect data. The data collected can be qualitative data (non-numerical data) or quantitative data (numerical or statistical data).

While conducting primary market research, one can gather two types of information: Exploratory and Specific. Exploratory research is open-ended, where a problem is explored by asking open ended questions in a detailed interview format usually with a small group of people, also known as a sample. Here the sample size is restricted to 6-10 members. Specific research, on the other hand, is more pinpointed and is used to solve the problems that are identified by exploratory research.

LEARN ABOUT: Marketing Insight

As mentioned earlier, primary market research is a combination of qualitative market research and quantitative market research. Qualitative market research study involves semi-structured or unstructured data collected through some of the commonly used qualitative research methods like:

Focus groups :

Focus group is one of the commonly used qualitative research methods. Focus group is a small group of people (6-10) who typically respond to online surveys sent to them. The best part about a focus group is the information can be collected remotely, can be done without personally interacting with the group members. However, this is a more expensive method as it is used to collect complex information.

One-to-one interview:

As the name suggests, this method involves personal interaction in the form of an interview, where the researcher asks a series of questions to collect information or data from the respondents. The questions are mostly open-ended questions and are asked to facilitate responses. This method heavily depends on the interviewer’s ability and experience to ask questions that evoke responses.

Ethnographic research :

This type of in-depth research is conducted in the natural settings of the respondents. This method requires the interviewer to adapt himself/herself to the natural environment of the respondents which could be a city or a remote village. Geographical constraints can be a hindering market research factor in conducting this kind of research. Ethnographic research can last from a few days to a few years.

Organizations use qualitative research methods to conduct structured market research by using online surveys , questionnaires , and polls to gain statistical insights to make informed decisions.

LEARN ABOUT: Qualitative Interview

This method was once conducted using pen and paper. This has now evolved to sending structured online surveys to the respondents to gain actionable insights. Researchers use modern and technology-oriented survey platforms to structure and design their survey to evoke maximum responses from respondents.

Through a well-structured mechanism, data is easily collected and reported, and necessary action can be taken with all the information made available firsthand.

Learn more: How to conduct quantitative research

2. Secondary Market Research:

Secondary research uses information that is organized by outside sources like government agencies, media, chambers of commerce etc. This information is published in newspapers, magazines, books, company websites, free government and nongovernment agencies and so on. The secondary source makes use of the following:

• Public sources: Public sources like library are an awesome way of gathering free information. Government libraries usually offer services free of cost and a researcher can document available information.
• Commercial sources: Commercial source although reliable are expensive. Local newspapers, magazines, journal, television media are great commercial sources to collect information.
• Educational Institutions: Although not a very popular source of collecting information, most universities and educational institutions are a rich source of information as many research projects are carried out there than any business sector.

Learn more: Market Research Example with Types and Methods

A market research project may usually have 3 different types of objectives.

• Administrative : Help a company or business development, through proper planning, organization, and both human and material resources control, and thus satisfy all specific needs within the market, at the right time.
• Social : Satisfy customers’ specific needs through a required product or service. The product or service should comply with a customer’s requirements and preferences when consumed.
• Economical : Determine the economical degree of success or failure a company can have while being new to the market, or otherwise introducing new products or services, thus providing certainty to all actions to be implemented.

LEARN ABOUT:  Test Market Demand

Knowing what to do in various situations that arise during the investigation will save the researcher time and reduce research problems . Today’s successful enterprises use powerful market research survey software that helps them conduct comprehensive research under a unified platform, providing actionable insights much faster with fewer problems.

LEARN ABOUT:  Market research industry

Following are the steps to conduct effective market research.

Step #1: Define the Problem

Having a well-defined subject of research will help researchers when they ask questions. These questions should be directed to solve problems and must be adapted to the project. Make sure the questions are written clearly and that the respondents understand them. Researchers can conduct a marketing test with a small group to know if the questions are going to know whether the asked questions are understandable and if they will be enough to gain insightful results.

Research objectives should be written in a precise way and should include a brief description of the information that is needed and the way in which it will obtain it. They should have an answer to this question “why are we doing the research?”

Learn more: Interview Questions

Step #2: Define the Sample

To carry out market research, researchers need a representative sample that can be collected using one of the many sampling techniques . A representative sample is a small number of people that reflect, as accurately as possible, a larger group.

• An organization cannot waste their resources in collecting information from the wrong population. It is important that the population represents characteristics that matter to the researchers and that they need to investigate, are in the chosen sample.
• Take into account that marketers will always be prone to fall into a bias in the sample because there will always be people who do not answer the survey because they are busy, or answer it incompletely, so researchers may not obtain the required data.
• Regarding the size of the sample, the larger it is, the more likely it is to be representative of the population. A larger representative sample gives the researcher greater certainty that the people included are the ones they need, and they can possibly reduce bias. Therefore, if they want to avoid inaccuracy in our surveys, they should have representative and balanced samples.
• Practically all the surveys that are considered in a serious way, are based on a scientific sampling, based on statistical and probability theories.

There are two ways to obtain a representative sample:

• Probability sampling : In probability sampling , the choice of the sample will be made at random, which guarantees that each member of the population will have the same probability of selection bias and inclusion in the sample group. Researchers should ensure that they have updated information on the population from which they will draw the sample and survey the majority to establish representativeness.
• Non-probability sampling : In a non-probability sampling , different types of people are seeking to obtain a more balanced representative sample. Knowing the demographic characteristics of our group will undoubtedly help to limit the profile of the desired sample and define the variables that interest the researchers, such as gender, age, place of residence, etc. By knowing these criteria, before obtaining the information, researchers can have the control to create a representative sample that is efficient for us.

When a sample is not representative, there can be a margin of error . If researchers want to have a representative sample of 100 employees, they should choose a similar number of men and women.

The sample size is very important, but it does not guarantee accuracy. More than size, representativeness is related to the sampling frame , that is, to the list from which people are selected, for example, part of a survey.

LEARN ABOUT: Behavioral Research If researchers want to continue expanding their knowledge on how to determine the size of the sample consult our guide on sampling here.

Step #3: Carry out data collection

First, a data collection instrument should be developed. The fact that they do not answer a survey, or answer it incompletely will cause errors in research. The correct collection of data will prevent this.

Step #4: Analyze the results

Each of the points of the market research process is linked to one another. If all the above is executed well, but there is no accurate analysis of the results, then the decisions made consequently will not be appropriate. In-depth analysis conducted without leaving loose ends will be effective in gaining solutions. Data analysis will be captured in a report, which should also be written clearly so that effective decisions can be made on that basis.

Analyzing and interpreting the results is to look for a wider meaning to the obtained data. All the previous phases have been developed to arrive at this moment. How can researchers measure the obtained results? The only quantitative data that will be obtained is age, sex, profession, and number of interviewees because the rest are emotions and experiences that have been transmitted to us by the interlocutors. For this, there is a tool called empathy map that forces us to put ourselves in the place of our clientele with the aim of being able to identify, really, the characteristics that will allow us to make a better adjustment between our products or services and their needs or interests. When the research has been carefully planned, the hypotheses have been adequately defined and the indicated collection method has been used, the interpretation is usually carried out easily and successfully. What follows after conducting market research?

Learn more: Types of Interviews

Step #5: Make the Research Report

When presenting the results, researchers should focus on: what do they want to achieve using this research report and while answering this question they should not assume that the structure of the survey is the best way to do the analysis. One of the big mistakes that many researchers make is that they present the reports in the same order of their questions and do not see the potential of storytelling.

To make good reports, the best analysts give the following advice: follow the inverted pyramid style to present the results, answering at the beginning the essential questions of the business that caused the investigation. Start with the conclusions and give them fundamentals, instead of accumulating evidence. After this researchers can provide details to the readers who have the time and interest.

Step #6: Make Decisions

An organization or a researcher should never ask “why do market research”, they should just do it! Market research helps researchers to know a wide range of information, for example,  consumer purchase intentions, or gives feedback about the growth of the target market. They can also discover valuable information that will help in estimating the prices of their product or service and find a point of balance that will benefit them and the consumers.

Take decisions! Act and implement.

Learn more: Quantitative Research

• Make well-informed decisions: The growth of an organization is dependent on the way decisions are made by the management. Using market research techniques, the management can make business decisions based on obtained results that back their knowledge and experience. Market research helps to know market trends, hence to carry it out frequently to get to know the customers thoroughly.

LEARN ABOUT: Research Process Steps

• Gain accurate information: Market research provides real and accurate information that will prepare the organization for any mishaps that may happen in the future. By properly investigating the market, a business will undoubtedly be taking a step forward, and therefore it will be taking advantage of its existing competitors.
• Determine the market size: A researcher can evaluate the size of the market that must be covered in case of selling a product or service in order to make profits.
• Choose an appropriate sales system: Select a precise sales system according to what the market is asking for, and according to this, the product/service can be positioned in the market.
• Learn about customer preferences: It helps to know how the preferences (and tastes) of the clients change so that the company can satisfy preferences, purchasing habits, and income levels. Researchers can determine the type of product that must be manufactured or sold based on the specific needs of consumers.
• Gather details about customer perception of the brand: In addition to generating information, market research helps a researcher in understanding how the customers perceive the organization or brand.
• Analyze customer communication methods: Market research serves as a guide for communication with current and potential clients.
• Productive business investment: It is a great investment for any business because thanks to it they get invaluable information, it shows researchers the way to follow to take the right path and achieve the sales that are required.

LEARN ABOUT: Total Quality Management

The following tips will help businesses with creating a better market research strategy.

Tip #1: Define the objective of your research.

Before starting your research quest, think about what you’re trying to achieve next with your business. Are you looking to increase traffic to your location? Or increase sales? Or convert customers from one-time purchasers to regulars? Figuring out your objective will help you tailor the rest of your research and your future marketing materials. Having an objective for your research will flesh out what kind of data you need to collect.

Tip #2: Learn About Your Target Customers.

The most important thing to remember is that your business serves a specific kind of customer. Defining your specific customer has many advantages like allowing you to understand what kind of language to use when crafting your marketing materials, and how to approach building relationships with your customer. When you take time to define your target customer you can also find the best products and services to sell to them.

You want to know as much as you can about your target customer. You can gather this information through observation and by researching the kind of customers who frequent your type of business. For starters, helpful things to know are their age and income. What do they do for a living? What’s their marital status and education level?

Learn more: Customer Satisfaction

Tip #3: Recognize that knowing who you serve helps you define who you do not.

Let’s take a classic example from copywriting genius Dan Kennedy. He says that if you’re opening up a fine dining steakhouse focused on decadent food, you know right off the bat that you’re not looking to attract vegetarians or dieters. Armed with this information, you can create better marketing messages that speak to your target customers.

It’s okay to decide who is not a part of your target customer base. In fact, for small businesses knowing who you don’t cater to can be essential in helping you grow. Why? Simple, if you’re small your advantage is that you can connect deeply with a specific segment of the market. You want to focus your efforts on the right customer who already is compelled to spend money on your offer.

If you’re spreading yourself thin by trying to be all things to everyone, you will only dilute your core message. Instead, keep your focus on your target customer. Define them, go deep, and you’ll be able to figure out how you can best serve them with your products and services.

Tip #4: Learn from your competition.

This works for brick-and-mortar businesses as well as internet businesses because it allows you to step into the shoes of your customer and open up to a new perspective of your business. Take a look around the internet and around your town. If you can, visit your competitor’s shops. For example, if you own a restaurant specializing in Italian cuisine, dine at the other Italian place in your neighborhood or in the next township.

As you experience the business from the customer’s perspective, look for what’s being done right and wrong.

Can you see areas that need attention or improvement? How are you running things in comparison? What’s the quality of their product and customer service ? Are the customers here pleased? Also, take a close look at their market segment. Who else is patronizing their business? Are they the same kinds of people who spend money with you? By asking these questions and doing in-person research, you can dig up a lot of information to help you define your unique selling position and create even better offers for your customers.

Tip #5: Get your target customers to open up and tell you everything.

A good customer survey is one of the most valuable market research tools because it gives you the opportunity to get inside your customer’s head. However, remember that some feedback may be harsh, so take criticism as a learning tool to point you in the right direction.

Creating a survey is simple. Ask questions about what your customer thinks you’re doing right and what can be improved. You can also prompt them to tell you what kinds of products and services they’d like to see you add, giving you fantastic insight into how to monetize your business more. Many customers will be delighted to offer feedback. You can even give customers who fill out surveys a gift like a special coupon for their next purchase.

Bonus Tip: Use an insight & research repository

An insight & research repository is a consolidated research management platform to derive insights about past and ongoing market research. With the use of such a tool, you can leverage past research to get to insights faster, build on previously done market research and draw trendlines, utilize research techniques that have worked in the past, and more.

Market research is one of the most effective ways to gain insight into your customer base , competitors , and the overall market. The goal of conducting market research is to equip your company with the information you need to make informed decisions.

It is especially important when small businesses are trying to determine whether a new business idea is viable, looking to move into a new market, or are launching a new product or service.  Read below for a more in-depth look at how market research can help small businesses.

• COMPETITION According to a study conducted by Business Insider, 72% of small businesses focus on increasing revenue. Conducting research helps businesses gain insight into competitor behavior. By learning about your competitor’s strengths and weaknesses, you can learn how to position your product or offering. In order to be successful, small businesses need to have an understanding of what products and services competitors are offering, and their price point.

Learn more: Trend Analysis

• CUSTOMERS Many small businesses feel they need to understand their customers, only to conduct market research and learn they had the wrong assumptions. By researching, you can create a profile of your average customer and gain insight into their buying habits, how much they’re willing to spend, and which features resonate with them. Additionally, and perhaps more importantly, you can learn what will make someone use your product or service over a competitor.

Learn more: Customer Satisfaction Survey

• OPPORTUNITIES Potential opportunities, whether they are products or services, can be identified by conducting market research. By learning more about your customers, you can gather insights into complementary products and services. Consumer needs change over time, influenced by new technology and different conditions, and you may find new needs that are not being met, which can create new opportunities for your business.

Learn more: SWOT Analysis 

• FORECAST A small business is affected by the performance of the local and national economy, as are its’ customers. If consumers are worried, then they will be more restrained when spending money, which affects the business. By conducting research with consumers, businesses can get an idea of whether they are optimistic or apprehensive about the direction of the economy, and make adjustments as necessary. For example, a small business owner may decide to postpone a new product launch if it appears the economic environment is turning negative.

Learn more: 300+ Market Research Survey Questionnaires

Market research and market intelligence may be as complex as the needs that each business or project has. The steps are usually the same. We hope this ultimate guide helps you have a better understanding of how to make your own market research project to gather insightful data and make better decisions.

LEARN ABOUT: Projective Techniques

We appreciate you taking the time to read this ultimate guide. We hope it was helpful! 

You can now download our free ebook that will guide you through a market research project, from the planning stage to the presentation of the outcomes and their analysis.

Sign up now, and download our free ebook: The Hacker’s Guide to Advanced Research Methodologies 

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Primary vs Secondary Research: Differences, Methods, Sources, and More

Table of Contents

Primary vs Secondary Research – What’s the Difference?

In the search for knowledge and data to inform decisions, researchers and analysts rely on a blend of research sources. These sources are broadly categorized into primary and secondary research, each serving unique purposes and offering different insights into the subject matter at hand. But what exactly sets them apart?

Primary research is the process of gathering fresh data directly from its source. This approach offers real-time insights and specific information tailored to specific objectives set by stakeholders. Examples include surveys, interviews, and observational studies.

Secondary research , on the other hand, involves the analysis of existing data, most often collected and presented by others. This type of research is invaluable for understanding broader trends, providing context, or validating hypotheses. Common sources include scholarly articles, industry reports, and data compilations.

The crux of the difference lies in the origin of the information: primary research yields firsthand data which can be tailored to a specific business question, whilst secondary research synthesizes what's already out there. In essence, primary research listens directly to the voice of the subject, whereas secondary research hears it secondhand .

When to Use Primary and Secondary Research

Selecting the appropriate research method is pivotal and should be aligned with your research objectives. The choice between primary and secondary research is not merely procedural but strategic, influencing the depth and breadth of insights you can uncover.

Primary research shines when you need up-to-date, specific information directly relevant to your study. It's the go-to for fresh insights, understanding consumer behavior, or testing new theories. Its bespoke nature makes it indispensable for tailoring questions to get the exact answers you need.

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Secondary research is your first step into the research world. It helps set the stage by offering a broad understanding of the topic. Before diving into costly primary research, secondary research can validate the need for further investigation or provide a solid background to build upon. It's especially useful for identifying trends, benchmarking, and situating your research within the existing body of knowledge.

Combining both methods can significantly enhance your research. Starting with secondary research lays the groundwork and narrows the focus, whilst subsequent primary research delves deep into specific areas of interest, providing a well-rounded, comprehensive understanding of the topic.

Primary vs Secondary Research Methods

In the landscape of market research, the methodologies employed can significantly influence the insights and conclusions drawn. Let's delve deeper into the various methods underpinning both primary and secondary research, shedding light on their unique applications and the distinct insights they offer.

Primary Research Methods:

• Surveys: Surveys are a cornerstone of primary research, offering a quantitative approach to gathering data directly from the target audience. By employing structured questionnaires, researchers can collect a vast array of data ranging from customer preferences to behavioral patterns. This method is particularly valuable for acquiring statistically significant data that can inform decision-making processes and strategy development. The application of statistical approaches for analysing this data, such as key drivers analysis, MaxDiff or conjoint analysis can also further enhance any collected data.
• One on One Interviews: Interviews provide a qualitative depth to primary research, allowing for a nuanced exploration of participants' attitudes, experiences, and motivations. Conducted either face-to-face or remotely, interviews enable researchers to delve into the complexities of human behavior, offering rich insights that surveys alone may not uncover. This method is instrumental in exploring new areas of research or obtaining detailed information on specific topics.
• Focus Groups: Focus groups bring together a small, diverse group of participants to discuss and provide feedback on a particular subject, product, or idea. This interactive setting fosters a dynamic exchange of ideas, revealing consumers' perceptions, experiences, and preferences. Focus groups are invaluable for testing concepts, exploring market trends, and understanding the factors that influence consumer decisions.
• Ethnographic Studies: Ethnographic studies involve the systematic watching, recording, and analysis of behaviors and events in their natural setting. This method offers an unobtrusive way to gather authentic data on how people interact with products, services, or environments, providing insights that can lead to more user-centered design and marketing strategies.

Secondary Research Methods:

• Literature Reviews: Literature reviews involve the comprehensive examination of existing research and publications on a given topic. This method enables researchers to synthesize findings from a range of sources, providing a broad understanding of what is already known about a subject and identifying gaps in current knowledge.
• Meta-Analysis: Meta-analysis is a statistical technique that combines the results of multiple studies to arrive at a comprehensive conclusion. This method is particularly useful in secondary research for aggregating findings across different studies, offering a more robust understanding of the evidence on a particular topic.
• Content Analysis: Content analysis is a method for systematically analyzing texts, media, or other content to quantify patterns, themes, or biases . This approach allows researchers to assess the presence of certain words, concepts, or sentiments within a body of work, providing insights into trends, representations, and societal norms. This can be performed across a range of sources including social media, customer forums or review sites.
• Historical Research: Historical research involves the study of past events, trends, and behaviors through the examination of relevant documents and records. This method can provide context and understanding of current trends and inform future predictions, offering a unique perspective that enriches secondary research.

Each of these methods, whether primary or secondary, plays a crucial role in the mosaic of market research, offering distinct pathways to uncovering the insights necessary to drive informed decisions and strategies.

Primary vs Secondary Sources in Research

Both primary and secondary sources of research form the backbone of the insight generation process, when both are utilized in tandem it can provide the perfect steppingstone for the generation of real insights. Let’s explore how each category serves its unique purpose in the research ecosystem.

Primary Research Data Sources

Primary research data sources are the lifeblood of firsthand research, providing raw, unfiltered insights directly from the source. These include:

• Customer Satisfaction Survey Results: Direct feedback from customers about their satisfaction with a product or service. This data is invaluable for identifying strengths to build on and areas for improvement and typically renews each month or quarter so that metrics can be tracked over time.
• NPS Rating Scores from Customers: Net Promoter Score (NPS) provides a straightforward metric to gauge customer loyalty and satisfaction. This quantitative data can reveal much about customer sentiment and the likelihood of referrals.
• Ad-hoc Surveys: Ad-hoc surveys can be about any topic which requires investigation, they are typically one off surveys which zero in on one particular business objective. Ad-hoc projects are useful for situations such as investigating issues identified in other tracking surveys, new product development, ad testing, brand messaging, and many other kinds of projects.
• A Field Researcher’s Notes: Detailed observations from fieldwork can offer nuanced insights into user behaviors, interactions, and environmental factors that influence those interactions. These notes are a goldmine for understanding the context and complexities of user experiences.
• Recordings Made During Focus Groups: Audio or video recordings of focus group discussions capture the dynamics of conversation, including reactions, emotions, and the interplay of ideas. Analyzing these recordings can uncover nuanced consumer attitudes and perceptions that might not be evident in survey data alone.

These primary data sources are characterized by their immediacy and specificity, offering a direct line to the subject of study. They enable researchers to gather data that is specifically tailored to their research objectives, providing a solid foundation for insightful analysis and strategic decision-making.

Secondary Research Data Sources

In contrast, secondary research data sources offer a broader perspective, compiling and synthesizing information from various origins. These sources include:

• Books, Magazines, Scholarly Journals: Published works provide comprehensive overviews, detailed analyses, and theoretical frameworks that can inform research topics, offering depth and context that enriches primary data.
• Market Research Reports: These reports aggregate data and analyses on industry trends, consumer behavior, and market dynamics, providing a macro-level view that can guide primary research directions and validate findings.
• Government Reports: Official statistics and reports from government agencies offer authoritative data on a wide range of topics, from economic indicators to demographic trends, providing a reliable basis for secondary analysis.
• White Papers, Private Company Data: White papers and reports from businesses and consultancies offer insights into industry-specific research, best practices, and market analyses. These sources can be invaluable for understanding the competitive landscape and identifying emerging trends.

Secondary data sources serve as a compass, guiding researchers through the vast landscape of information to identify relevant trends, benchmark against existing data, and build upon the foundation of existing knowledge. They can significantly expedite the research process by leveraging the collective wisdom and research efforts of others.

By adeptly navigating both primary and secondary sources, researchers can construct a well-rounded research project that combines the depth of firsthand data with the breadth of existing knowledge. This holistic approach ensures a comprehensive understanding of the research topic, fostering informed decisions and strategic insights.

Examples of Primary and Secondary Research in Marketing

In the realm of marketing, both primary and secondary research methods play critical roles in understanding market dynamics, consumer behavior, and competitive landscapes. By comparing examples across both methodologies, we can appreciate their unique contributions to strategic decision-making.

Example 1: New Product Development

Primary Research: Direct Consumer Feedback through Surveys and Focus Groups

• Objective: To gauge consumer interest in a new product concept and identify preferred features.
• Process: Surveys distributed to a target demographic to collect quantitative data on consumer preferences, and focus groups conducted to dive deeper into consumer attitudes and desires.
• Insights: Direct insights into consumer needs, preferences for specific features, and willingness to pay. These insights help in refining product design and developing a targeted marketing strategy.

Secondary Research: Market Analysis Reports

• Objective: To understand the existing market landscape, including competitor products and market trends.
• Process: Analyzing published market analysis reports and industry studies to gather data on market size, growth trends, and competitive offerings.
• Insights: Provides a broader understanding of the market, helping to position the new product strategically against competitors and align it with current trends.

Example 2: Brand Positioning

Primary Research: Brand Perception Analysis through Surveys

• Objective: To understand how the brand is perceived by consumers and identify potential areas for repositioning.
• Process: Conducting surveys that ask consumers to describe the brand in their own words, rate it against various attributes, and compare it to competitors.
• Insights: Direct feedback on brand strengths and weaknesses from the consumer's perspective, offering actionable data for adjusting brand messaging and positioning.

Secondary Research: Social Media Sentiment Analysis

• Objective: To analyze public sentiment towards the brand and its competitors.
• Process: Utilizing software tools to analyze mentions, hashtags, and discussions related to the brand and its competitors across social media platforms.
• Insights: Offers an overview of public perception and emerging trends in consumer sentiment, which can validate findings from primary research or highlight areas needing further investigation.

Example 3: Market Expansion Strategy

Primary Research: Consumer Demand Studies in New Markets

• Objective: To assess demand and consumer preferences in a new geographic market.
• Process: Conducting surveys and interviews with potential consumers in the target market to understand their needs, preferences, and cultural nuances.
• Insights: Provides specific insights into the new market’s consumer behavior, preferences, and potential barriers to entry, guiding market entry strategies.

Secondary Research: Economic and Demographic Analysis

• Objective: To evaluate the economic viability and demographic appeal of the new market.
• Process: Reviewing existing economic reports, demographic data, and industry trends relevant to the target market.
• Insights: Offers a macro view of the market's potential, including economic conditions, demographic trends, and consumer spending patterns, which can complement insights gained from primary research.

By leveraging both primary and secondary research, marketers can form a comprehensive understanding of their market, consumers, and competitors, facilitating informed decision-making and strategic planning. Each method brings its strengths to the table, with primary research offering direct consumer insights and secondary research providing a broader context within which to interpret those insights.

What Are the Pros and Cons of Primary and Secondary Research?

When it comes to market research, both primary and secondary research offer unique advantages and face certain limitations. Understanding these can help researchers and businesses make informed decisions on which approach to utilize for their specific needs. Below is a comparative table highlighting the pros and cons of each research type.

Navigating the Pros and Cons

• Balance Your Research Needs: Consider starting with secondary research to gain a broad understanding of the subject matter, then delve into primary research for specific, targeted insights that are tailored to your precise needs.
• Resource Allocation: Evaluate your budget, time, and resource availability. Primary research can offer more specific and actionable data but requires more resources. Secondary research is more accessible but may lack the specificity or recency you need.
• Quality and Relevance: Assess the quality and relevance of available secondary sources before deciding if primary research is necessary. Sometimes, the existing data might suffice, especially for preliminary market understanding or trend analysis.
• Combining Both for Comprehensive Insights: Often, the most effective research strategy involves a combination of both primary and secondary research. This approach allows for a more comprehensive understanding of the market, leveraging the broad perspective provided by secondary sources and the depth and specificity of primary data.

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Secondary Research Guide: Definition, Methods, Examples

Apr 3, 2024

8 min. read

The internet has vastly expanded our access to information, allowing us to learn almost anything about everything. But not all market research is created equal , and this secondary research guide explains why.

There are two key ways to do research. One is to test your own ideas, make your own observations, and collect your own data to derive conclusions. The other is to use secondary research — where someone else has done most of the heavy lifting for you. 

Here’s an overview of secondary research and the value it brings to data-driven businesses.

Secondary Research Definition: What Is Secondary Research?

Primary vs Secondary Market Research

What Are Secondary Research Methods?

Advantages of secondary research, disadvantages of secondary research, best practices for secondary research, how to conduct secondary research with meltwater.

Secondary research definition: The process of collecting information from existing sources and data that have already been analyzed by others.

Secondary research (aka desk research ) provides a foundation to help you understand a topic, with the goal of building on existing knowledge. They often cover the same information as primary sources, but they add a layer of analysis and explanation to them.

Users can choose from several secondary research types and sources, including:

• Journal articles
• Research papers

With secondary sources, users can draw insights, detect trends , and validate findings to jumpstart their research efforts.

Primary vs. Secondary Market Research

We’ve touched a little on primary research , but it’s essential to understand exactly how primary and secondary research are unique.

Think of primary research as the “thing” itself, and secondary research as the analysis of the “thing,” like these primary and secondary research examples:

• An expert gives an interview (primary research) and a marketer uses that interview to write an article (secondary research).
• A company conducts a consumer satisfaction survey (primary research) and a business analyst uses the survey data to write a market trend report (secondary research).
• A marketing team launches a new advertising campaign across various platforms (primary research) and a marketing research firm, like Meltwater for market research , compiles the campaign performance data to benchmark against industry standards (secondary research).

In other words, primary sources make original contributions to a topic or issue, while secondary sources analyze, synthesize, or interpret primary sources.

Both are necessary when optimizing a business, gaining a competitive edge , improving marketing, or understanding consumer trends that may impact your business.

Secondary research methods focus on analyzing existing data rather than collecting primary data . Common examples of secondary research methods include:

• Literature review . Researchers analyze and synthesize existing literature (e.g., white papers, research papers, articles) to find knowledge gaps and build on current findings.
• Content analysis . Researchers review media sources and published content to find meaningful patterns and trends.
• AI-powered secondary research . Platforms like Meltwater for market research analyze vast amounts of complex data and use AI technologies like natural language processing and machine learning to turn data into contextual insights.

Researchers today have access to more market research tools and technology than ever before, allowing them to streamline their efforts and improve their findings.

Want to see how Meltwater can complement your secondary market research efforts? Simply fill out the form at the bottom of this post, and we'll be in touch.

Conducting secondary research offers benefits in every job function and use case, from marketing to the C-suite. Here are a few advantages you can expect.

Cost and time efficiency

Using existing research saves you time and money compared to conducting primary research. Secondary data is readily available and easily accessible via libraries, free publications, or the Internet. This is particularly advantageous when you face time constraints or when a project requires a large amount of data and research.

Access to large datasets

Secondary data gives you access to larger data sets and sample sizes compared to what primary methods may produce. Larger sample sizes can improve the statistical power of the study and add more credibility to your findings.

Ability to analyze trends and patterns

Using larger sample sizes, researchers have more opportunities to find and analyze trends and patterns. The more data that supports a trend or pattern, the more trustworthy the trend becomes and the more useful for making decisions. 

Historical context

Using a combination of older and recent data allows researchers to gain historical context about patterns and trends. Learning what’s happened before can help decision-makers gain a better current understanding and improve how they approach a problem or project.

Basis for further research

Ideally, you’ll use secondary research to further other efforts . Secondary sources help to identify knowledge gaps, highlight areas for improvement, or conduct deeper investigations.

Tip: Learn how to use Meltwater as a research tool and how Meltwater uses AI.

Secondary research comes with a few drawbacks, though these aren’t necessarily deal breakers when deciding to use secondary sources.

Reliability concerns

Researchers don’t always know where the data comes from or how it’s collected, which can lead to reliability concerns. They don’t control the initial process, nor do they always know the original purpose for collecting the data, both of which can lead to skewed results.

Potential bias

The original data collectors may have a specific agenda when doing their primary research, which may lead to biased findings. Evaluating the credibility and integrity of secondary data sources can prove difficult.

Outdated information

Secondary sources may contain outdated information, especially when dealing with rapidly evolving trends or fields. Using outdated information can lead to inaccurate conclusions and widen knowledge gaps.

Limitations in customization

Relying on secondary data means being at the mercy of what’s already published. It doesn’t consider your specific use cases, which limits you as to how you can customize and use the data.

A lack of relevance

Secondary research rarely holds all the answers you need, at least from a single source. You typically need multiple secondary sources to piece together a narrative, and even then you might not find the specific information you need.

To make secondary market research your new best friend, you’ll need to think critically about its strengths and find ways to overcome its weaknesses. Let’s review some best practices to use secondary research to its fullest potential.

Identify credible sources for secondary research

To overcome the challenges of bias, accuracy, and reliability, choose secondary sources that have a demonstrated history of excellence . For example, an article published in a medical journal naturally has more credibility than a blog post on a little-known website.

Assess credibility based on peer reviews, author expertise, sampling techniques, publication reputation, and data collection methodologies. Cross-reference the data with other sources to gain a general consensus of truth.

The more credibility “factors” a source has, the more confidently you can rely on it. 

Evaluate the quality and relevance of secondary data

You can gauge the quality of the data by asking simple questions:

• How complete is the data? 
• How old is the data? 
• Is this data relevant to my needs?
• Does the data come from a known, trustworthy source?

It’s best to focus on data that aligns with your research objectives. Knowing the questions you want to answer and the outcomes you want to achieve ahead of time helps you focus only on data that offers meaningful insights.

Document your sources 

If you’re sharing secondary data with others, it’s essential to document your sources to gain others’ trust. They don’t have the benefit of being “in the trenches” with you during your research, and sharing your sources can add credibility to your findings and gain instant buy-in.

Secondary market research offers an efficient, cost-effective way to learn more about a topic or trend, providing a comprehensive understanding of the customer journey . Compared to primary research, users can gain broader insights, analyze trends and patterns, and gain a solid foundation for further exploration by using secondary sources.

Meltwater for market research speeds up the time to value in using secondary research with AI-powered insights, enhancing your understanding of the customer journey. Using natural language processing, machine learning, and trusted data science processes, Meltwater helps you find relevant data and automatically surfaces insights to help you understand its significance. Our solution identifies hidden connections between data points you might not know to look for and spells out what the data means, allowing you to make better decisions based on accurate conclusions. Learn more about Meltwater's power as a secondary research solution when you request a demo by filling out the form below:

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