But it can provide expansive insights and is worth exploring. What Is Secondary Research? To understand secondary research, it helps to know what primary research is, too. Primary is initiated by those wanting the data, like a restaurant chain crowd-testing a new menu concept.
Types of Data Primary Data: Data that has been collected from first-hand-experience is known as primary data.
Primary data has not been published yet and is more reliable, authentic and objective. Primary data has not been changed or altered by human beings, therefore its validity is greater than secondary data.
Importance of Primary Data: Importance of Primary data cannot be neglected. A research can be conducted without secondary data but a research based on only secondary data is least reliable and may have biases because secondary data has already been manipulated by human beings.
In statistical surveys it is necessary to get information from primary sources and work on primary data: One such sources are old and secondly they contain limited information as well as they can be misleading and biased.
Validity is one of the major concerns in a research. Validity is the quality of a research that makes it trustworthy and scientific. Validity is the use of scientific methods in research to make it logical and acceptable.
Using primary data in research can improves the validity of research. First hand information obtained from a sample that is representative of the target population will yield data that will be valid for the entire target population.
Authenticity is the genuineness of the research. Authenticity can be at stake if the researcher invests personal biases or uses misleading information in the research.
Primary research tools and data can become more authentic if the methods chosen to analyze and interpret data are valid and reasonably suitable for the data type.
Primary sources are more authentic because the facts have not been overdone. Primary source can be less authentic if the source hides information or alters facts due to some personal reasons.
There are methods that can be employed to ensure factual yielding of data from the source. Reliability is the certainty that the research is enough true to be trusted on. For example, if a research study concludes that junk food consumption does not increase the risk of cancer and heart diseases.
This conclusion should have to be drawn from a sample whose size, sampling technique and variability is not questionable. Reliability improves with using primary data. In the similar research mentioned above if the researcher uses experimental method and questionnaires the results will be highly reliable.What is Secondary Market Research and Data?
Secondary data is the data collected by someone else other than the researcher himself. This data can be gathered from government records, books, trade associations, national or international institutes, statistics agencies, etc.
Research done using this readily available information is called Secondary Market Research. The type of information you want to gather about your customers, market or competitors will influence the research methods you choose.
There are different ways to gather information (from primary or secondary sources) and different types of information to gather (quantitative and qualitative). Primary market research is a process where the market research company directly gets in touch with the end customer and asks the necessary questions to collect relevant data.
Thus, where secondary research is data collected from different references, primary data is the original data gathered and analysed by the market research firm themselves.
Market research should be the primary driver of changes to your company’s marketing mix – the combination of product, price, place and promotion. This is commonly referred to as ‘the 4 Ps’. Examples of secondary data are research reports, government reports, censuses, weather reports, interviews, the Internet, reference books, organizational reports and accounting documents.
Secondary data can be defined as information collected by someone other than the user. Market surveys and reports are important instruments in the hands of researcher for conducting marketing research. These are published by business houses or independent research organisations. These pertain to specific lines of products.