PRIMARY MARKET RESEARCH

Market research collected for the specific purposes of the business by the business.

EXAMPLES

• Focus groups
• Surveys
• Discussions with customers
• Customer feedback

Carrying out their own research allows the marketing organisations to address issues specific to their own situation. For example, Walkers crisps conducted research in the form of a competition allowing consumers to develop their own flavours and test them on the market to find which was most popular. This is beneficial because the company is certain that this is what the customers want.

DISSADVANTAGES

• Expensive
• Time consuming
• Resources could be better spent elsewhere

A small independent boutique shop may however struggle to conduct efficient primary research as the cost and time required may be financially unviable.