Primary Data Success Criteria in Market Research

Research Methodologies

• The primary purpose of qualitative research is to gain an in-depth understanding of a particular phenomenon or issue.

Quantitative Research

• The main characteristic of quantitative research is that it uses numerical data and statistical analysis to draw conclusions.

Market Research

• The purpose of using test marketing in market research is to simulate the launch of a new product or service to gather feedback and fine-tune the offering.

Internal Information Sources

• The main focus of internal information sources like sales records, inventory, and production records is to provide insights into an organization's internal operations and performance.

Survey Questions

• A true statement about open-ended questions is that they allow respondents to provide detailed and subjective responses.

Survey Sampling

• A key requirement for surveys to be considered a random sample is that every individual in the population has an equal chance of being selected.

Observation Methods

• A potential advantage of observation over surveys is that it allows researchers to gather unbiased data, as respondents are not influencing the results.

Focus Groups

• The role of a moderator in focus groups is to facilitate the discussion, ensure that all participants have an opportunity to contribute, and encourage open and honest sharing of opinions.

Learn about the types of primary research and six methods to gather primary research data in market research. Understand the differences between qualitative and quantitative research, as well as various strategies for gathering primary data.