Research Methods for Public Administrators. Â· Collecting secondary data leaves more time for making in depth data analysis. In terms of historical research, these two terms have different meanings. It is a very slow process of collecting data and involves huge costs. They are to analyzed and interpreted to get meaningful implication.
For example, it may help to add certain qualities to products that may reach out to number of people, thus decreasing chances of the product going not used. Information of the past special events, etc. This article attempts to provide a better understanding of both types of data while elaborating the difference between the two types. Advertising agencies and marketing consultants iv. Surveys These are basically questionnaires with a set of carefully designed questions posed to your target population. The researcher can achieve maximum accuracy in the collection and analysis of data. The advantage to collecting primary data is that the questions asked are directly tailored to suit the needs of the researcher.
Types Of Market Research Techniques Primary Market Research. Good data on transport operations enables the enterprise to perform trade-off analysis and thereby establish whether it makes economic sense to own or hire vehicles, or the point at which a balance of the two gives the best financial outcome. I hope that makes sense. The link above is primarily on the use of secondary data for purposes of calculating statistics. Characteristics of Secondary Data : Following are the key characteristics of secondary data: 1. Â· Often the secondary data provides valuable background for the research - for example, it enables users to judge whether a small sample they have gathered is typical of the national population.
Most of the information has been accepted and approved for consumption by different audiences. But it is also an important question from the perspective of an accurate and complete researcher. However, secondary data analysis can be less useful in marketing research, as data may be outdated or inaccurate. Reserve Bank of India bulletin, publication of the Statistical Departments of various State Govts. Surveys can be administered by mail, telephone or by the Internet.
Primary data is information collected directly from the first-hand experience. The time period during which secondary data was first compiled may have a substantial effect upon the nature of the data. Often times this can limit the analysis or alter the original questions the researcher sought to answer. Primary market research is the most common type of a market research method and is also the most valuable type. Â· Secondary data is unobtrusive.
Such data are cheaper and more quickly obtainable than the primary data and also may be available when primary data can not be obtained at all. This data is available at a very low cost and it requires lesser time to collect it. Government agencies, trade associations and marketing research firms that sell research reports are common sources for secondary research data. These are frequently overlooked as valuable information sources even though more research is conducted in colleges, universities, and technical institutes than virtually any sector of the business community. The assembly and analysis of secondary data almost invariably improves the researcher's understanding of the marketing problem, the various lines of inquiry that could or should be followed and the alternative courses of action which might be pursued.
Sometimes the secondary data set must be purchased, but the cost is almost always lower than the expense of collecting a similar data set from scratch, which usually entails salaries, travel and transportation, office space, equipment, and other overhead costs. There is a need to evaluate the quality of both the source of the data and the data itself. In addition, you have a higher level of control over how the information is gathered. Primary data is original data — from the first source. The database contains over 60,000 data variables for consumer media usage behavior, 8000 brands, and 450 product categories.
Government publication and reports ii. A great deal of potentially useful secondary information already exists within enterprises. Geographical areas may have their boundaries redefined, units of measurement and grades may change and imported goods can be reclassified from time to time for purposes of levying customs and excise duties. You will apply what you find to your personal research problem, but the data you are finding was not originally collected by you, nor was it obtained for the purpose you are using it for. Secondary market research is usually thought of in terms of two categories: Information from internal sources held by a particular company or agency , and information from external sources held outside of a particular business enterprise, organization, or agency. Primary data are collected with the objective of identifying some specific factors needed by the researcher. Ã Other companies financial reports Secondary data means information that has already been processed and collected by somebody else.