Posted in Marketing and Strategy Terms, Total Reads: 3443
Definition: Primary Research
Primary Research refers to the process of collection & thereafter the analysis of primary data. It must here be mentioned that primary data is the data originated by the researcher to address the research problem. The common methodologies involved with the primary research procedure are in-home visits, personal or telephone interviewing, email, questionnaires, internet, focus group interviewing etc.
Proper selection & training of the field-personnel, evaluation, monitoring & supervision of field forces, unbiased selection of sample help minimize data collection errors. While primary research is the most authentic form of research, it is much expensive to conduct & suffers from low response rates from the respondents. Primary research finds wide application in market research & academic research. Primary research helps the researcher do both qualitative and quantitative analysis and addresses specific research areas. The researcher also enjoys a lot of control in the research. The disadvantages are that research is pretty expensive and involves allocating a lot of resource in the data collection and analysis part and may take a lot of time.
An example for primary research could be that an FMCG company plans to launch a new variant of soap in the market. For that the company identifies the target segment & conducts interviewing a segment of the target consumers to get real time data of their preferences. The data collected can be used to meet the unmet customer needs in the product.