Topic > Market Research - 1004

IntroductionWhen overseeing market research, it would be beneficial for a company to use both primary and secondary market research. This article will cover the different tools needed to conduct primary and secondary research. Secondary market research is research already prepared by other companies and is available in various types of forms for use by others, such as graphs and charts. Primary search is research performed by a specific company and customized to the company's wants and needs. Tools Used in Secondary Research In secondary market research a company will analyze data that has been collected for some other purpose. This type of research saves the company the cost of collecting data, so it is more cost-effective. Secondary research should be used when starting a new business or making changes to an existing one. There are numerous secondary research tools that an organization can use. It's important to review searches from other local businesses in the same area. Local chambers of commerce will maintain resources that can be beneficial to many businesses. Local libraries are also a reliable resource for locating data that might be useful. Industry magazines and books are another reliable research tool full of valuable information. Sometimes a company can obtain data directly from competitors. It is not unreasonable to simply ask directly for company brochures, product and service menus, pricing, and annual reports (Higley, 2011). Tools Used in Primary Research Primary market research is research organized by a specific organization and tailored to that specific organization's needs and needs. A good example of primary market research would be a focus group... half of the document... 006). Conclusion As this paper has shown, there are numerous ways to conduct market research. A successful marketer and organization will understand how to choose the marketing tools that will work best for their intended desires. However, the most effective way to oversee market research is to use both primary and secondary research to achieve an organization's research goals and success. References: Burns, A., & Bush, R. (2006). Market research. Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary2/content/eReader.aspx#ch08term1Higley, S. (2011). Research tools used in primary and secondary research. Retrieved from http://www.ehow.com/info_8457824_research-used-primary-secondary-research.htmlQualitative Market Research. (2011). Retrieved from http://www.smallbusinessnotes.com/marketing-your-business/qualitative-market-research.html