Advantages
and disadvantages of primary research
Primary
research is any type of research that you go out and collect yourself. Examples
include surveys, interviews, observations, and ethnographic research. A good
researcher knows how to use both primary and secondary sources in her writing
and to integrate them in a cohesive fashion.
Advantages
of Primary Market Research
1)
Targeted Issues are addressed. The organization asking for the research has the
complete control on the process and the research is streamlines as far as its
objectives and scope is concerned. Researching company can be asked to
concentrate their efforts to find data regarding specific market rather than
concentration on mass market.
2) Recency
of Data. Usually secondary data is not so recent and it may not be specific to
the place or situation marketer is targeting. The researcher can use the
irrelevant seeming information for knowing trends or may be able to find some
relation with the current scenario. Thus primary data becomes a more accurate
tool since we can use data which is useful for us.
3)
Proprietary Issues. Collector of primary data is the owner of that information
and he need not share it with other companies and competitors. This gives an
edge over competitors replying on secondary data.
Penna has
conveyed all the advantages of primary research and given a clear understanding
of the benefits or conducting primary research. she also mentioned Data
interpretation is better. This is because the collected data can be examined
and interpreted by the marketers depending on their needs rather than relying
on the interpretation made by collectors of secondary data.
Disadvantages
of Primary Market Research
1) High
Cost. Collecting data using primary research is a costly proposition as
marketer has to be involved throughout and has to design everything (Penna 2012). Depending on how the data will be produced, it costs can easily
increase. for example, if the data needs to be printed then a minimum of 10
sheets will be printed at around £1 each.
2) Time
Consuming. Because of exhaustive nature of the exercise, the time required to
do research accurately is very long as compared to secondary data, which can be
collected in much lesser time duration.
3) Expired
Information. the information you collect may be outdated. It may originate from
a particular age group whom the proportion of answers were higher on and this
could give you old fashioned, slightly old answers.
4)
Inaccurate Feed-backs. In case the research involves taking feedback's from the
targeted audience, there are high chances that feedback given is not correct.
Feedback's by their basic nature are usually biased or given just for the sake
of it.
5) More
number of resources are required. Leaving aside cost and time, other resources
like human resources and materials too are needed in larger quantity to do
surveys and data collection.
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references
http://www.ianswer4u.com/2012/02/primary-research-advantages-and.html
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