When conducting market research, there Two Types of Marketing Research Data are two types of marketing research data that can be collected:
Secondary Information : This data comes from other channels that collect information and make it available to the public. For example, you can get secondary information from federal databases or newspaper articles. The most significant advantage is that you do not have to spend time or resources on this part of the process, since there is another party that must collect the data. The main disadvantage of this type of data is that it is publicly available.
First-party information : This data comes from a source, such as customers. When your business creates this type of data, you have complete armenia phone number data control over the collection and analysis. The biggest advantage is that your company owns it without sharing it with others. The disadvantage is that collection can be expensive and time-consuming, depending on the method you use.
Types of information collected from primary and secondary sources
All the data you collect during your research falls into one of two categories, which affects how you analyze it:
Quantitative data : You can measure this sales and sdr salary outlook in 2025: complete compensation guide type of information, usually focusing on numbers and figures. Quantitative data can help you determine percentages and statistics.
Qualitative data : You can compare these types of information to get an idea of how your audience feels about something. This can also help you understand why viewers prefer certain products or make certain choices.
Sources of Relevant Marketing Research
Observation : While most primary sources require direct participation from your target audience, observation allows you to watch how customers interact with your products, services, or marketing materials. Once the team notices how customers naturally interact with these elements, you can draw conclusions about their problems or preferences.
Survey : Customer surveys allow you to ask south africa numbers more questions to a wider range of people. Like interviews, surveys can ask questions to gain insight into purchasing decisions. You have the option of setting up in-person, online, or phone surveys that your audience can complete themselves, allowing your team to be more effective.
Focus Groups : While interviews are typically conducted one-on-one, focus groups allow you to interact with several people at once. Most focus group participants may have similar characteristics, which may be needs, problems, or demographics. Research analysts typically lead the discussions, and the discussions typically include probing questions about your company, product line, or industry.
Interviews : When communicating directly with customers, you can ask specific questions to assess their behavior and preferences. You can conduct these interviews via email, chat, video, or phone. Since interviews are usually interactive, an added benefit is that you have the opportunity to ask follow-up questions or clarify answers.
Sources of Secondary Market Research
Literature Reviews : To thoroughly analyze existing data in your market segment, look for literature reviews to include publicly available information.
Government reports and databases : Agencies such as the U.S. Census Bureau and the Bureau of Labor Statistics release statistical information and analysis to the public on a monthly, quarterly, or annual basis.
Example : Other companies in your industry may post comments containing qualitative findings and statistics that they believe are relevant to your research.
Industry publications and research : Industry journals and university reviews often publish in-depth studies of audiences or audiences associated with your company.