What is Market-driven Primary Research?
Learn how to conduct market-driven primary research methods and practices with…
“The day when [people] will settle for white refridgerators, black telephones and green checks is gone forever.Today [people] expect a product or service customized to meet their needs.”
John Naisbett, Megatrends
Resourceful marketing in today’s competitive marketplace requires more and more precision. We have shifted from the ‘shot-gun’ approach of mass marketing to the ‘rifle’ approach of precision target marketing and segmentation. Every sound marketing strategy and plan needs to be built on sound primary and secondary research that informs decision-making, choices, and actions plans.
One reason for the need for increased precision is that the marketplace has become very fragmented. It’s often difficult to evaluate customer preferences and needs by simply identifying the market demographics and segment characteristics. It takes deeper intelligence to know your market and consequently create sustainable value to deliver to your market for sustainable growth and profit.
Primary Research Methods
Qualitative Methods for Primary Research Data Collection:
The main objective of qualitative research is the formulation of your hypothesis and generation of theories around your areas of interest. This type of research is typically loosely structure, rich in content, and applies non-numerical analysis and interpretation of observations and data.
Qualitative methods for primary research data collection rely on open-ended data collection techniques and include:
- one on one personal interviews
- on-site visits
- mystery shopper programs
- focus groups
It is often distinguished by direct interaction or experience with the consumer or area under research.
About the Sample:
Normally in a qualitative study the sample is not considered of statistical significance. The results are never reported or projected to a larger group or demographic.
Instead the study takes on the One-to-One Marketing approach, providing rich detailed subjective data into consumer thinking, insights, preferences, opinions, and responses to a particular product, service, or marketing concept. [If you're interested in applying the concepts of focusing your marketing efforts on one customer at a time, we highly recommend this classic fieldguide by the creators of the One-to-One Marketing, Don Peppers and Martha Rogers, "The One to One Fieldbook".]
With Qualitative methods you identify a unit of analysis: the unit of analysis is the item you’re evaluating, such a company, a department, a team, or in a marketplace a geography, an age group, a consumer group, etc. Then you will study all or a subset of that unit as your source of qualitative data. As segments and targets get more and more ‘nichey’, niche marketing becomes more and more effective with increased insight from primary research and business intelligence.
Use Qualitative Methods for purposes such as:
- idea generation
- hypothesis generation
- for identifying marketing concepts for products, services, market messages, branding and more
- diagnose a problem you can’t get a fix on
- collecting data where quantifiable research is impractical or not available
- identifying moments of truths
- as a follow up to further understand the findings of a survey or other quantitative study
- identification or clarification of product and service attributes
- understand consumer and prospect opinions
- input to solutions design
- and more!
Secondary Research Methods
Quantitative Methods for Primary Research Data Collection:
The main objective of Quantitative Research is the testing of the hypothesis and the quantifying of the variables for the purpose of understanding and explaining relationships. Quantitative research analysis is well-structured and based on numerical statistical analysis. It relies on close-ended, standardized data collection techniques, often referred to as “objective” data.
Quantitative methods for primary research data collection rely on numerical data collection techniques which include:
- observation of behaviors