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What are the advantages of primary market research?

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April 03, 2009 7:03PM

Primary market research (as opposed to secondary research) offers the benefit of direct contact, through a survey or interview, with certain markets and/or customer groups. This type of research can be tailored to meet the needs of an organization and provide specific and detailed information. An additional benefit of primary vs. secondary research is the confidentiality of the findings. Secondary data is available publicly (at a cost or for free, but it is information in the public domain) while primary research data is collected directly by the organization that deploys the research. The results are, therefore, available to that organization only, providing an "insight edge" against the competition. However, because this method is time-consuming and expensive, most organizations rely on secondary market research, which is collecting and analyzing existing published data that has been prepared by a third-party such as technical reports, newspaper articles or press releases, among others.