Types of Data
This type of data is collected for the first time specifically for market research.
What is primary market research data?
This data comes from website analytics, market research reports, or even vital statistics records.
What is secondary market research data?
Companies use test marketing to primarily to reduce this.
What is risk?
An organization uses 2025 census data to analyze consumer demographics.
What is secondary market research data?
Test marketing helps to predict this before going nationwide or a full scale launch.
What is sales or customer demand?
A focus group is taste testing a snack product prior to full rollout.
What is primary market research data?
This is one advantage of secondary data over primary data.
What is lower cost or faster collection?