The process of collecting original data about the market, by the marketer on its own is called primary market research. The research is carried out after getting some knowledge from the secondary sources eg. One can decide to go for primary market research if he feels that the data available from secondary sources is not fulfilling his requirements.
Of most importance, this method allows businesses to reach new customers and respond to the needs of their target market. There are many different methods for gathering information from your market.
For example, a business can conduct research via an online survey or by meeting face to face with potential customers. Conducting market research over the phone is also a traditional and popular method for gathering vital market insight.
Any business looking into market research by phone should consider the following advantages and disadvantages of this method. Advantages Using the telephone to conduct market research can produce a high level of response as it is one of the quickest and easiest methods for the business and the respondent.
A telephone interview is one of the cheaper methods. Your business will not need to worry itself with postal costs or the potential transport and catering costs associated with organising a focus group. It is easy to target a particular sector of the public by telephone.
However, this may not be the case if you were to conduct face to face street surveys, for example. Telephone surveys are one of the more personal market research methods. People are more likely to respond in a positive manner when speaking to a person rather than filling out a form.
Speaking to an administrator will also give the respondent a chance to ask questions and query anything they are unsure of. The quality of information gathered by telephone will be good as the administrator will be trained and will be able to lead the respondent through the survey.
Disadvantages When conducting a telephone survey, businesses are limited for time. If there many questions then the potential customer may get fed up and end the conversation.
Whereas, if this was done by email, users can answer the questions in their own time. Market research calls are often mistaken as sales calls. By using websites like http: If they subsequently look up the number and find that it is a business, this may put them off further, reducing the likelihood that you will ever be able to contact such people.
Questions must be worded in a short and simple way if asking them over the telephone. If not, respondents may not understand the question and consequently may not be able to answer adequately.
The timing of calls is crucial.15 Advantages of using a Market Research Tool Sujain Thomas August 10, 0 0 K views Carrying out a market research before starting a business is very critical.
Businesses can hire external consultants -- such as a market research firm -- or they can use an internal marketing research department, which has both advantages and disadvantages. Impartiality Internal marketing research departments might not be impartial, which can be a disadvantage.
Focus Groups Advantages & Disadvantages Many businesses are unaware of the kinds of benefits using focus groups can have. A key market research tool, focus groups are often used in order to gain a better insight into different behaviours and opinions of consumers regarding products, brands and .
Advantages of Primary Market Research. 1) Targeted Issues are addressed. The organization asking for the research has the complete control on the process and the research is streamlines as far as its objectives and scope is concerned.
Conducting market research for a business can provide you with several advantages as a business owner. One of the big advantages of conducting market research is that you will be able to get a grasp on what the general public feels.
Companies that act without first conducting research are playing a guessing game. Increasingly, however, these are few and far between. In part, their number is dropping because companies that bypass research tend to perform worse than the competition, but also because the barriers to useful research have become so incredibly low. Any business looking into market research by phone should consider the following advantages and disadvantages of this method. Advantages. Using the telephone to conduct market research can produce a high level of response as it is one of the quickest and . Yet with this in mind, there are advantages and disadvantages of face-to-face interviews that businesses should know before they implement or authorize this market research method. Below is a high-level look at the pros and cons.
Discuss ADVANTAGES and DISADVANTAGES of MARKETING RESEARCH within the Marketing Research (MR) Advantages And Disadvantages of Web Based Learning: Gaurav Garg General Talks: 2: June 12th, Conducting Market Research Melange presents HINTERHUNT - RURAL MARKETING EVENT FOR GODREJ APPLAINCES.