Basic methods of gathering marketing information in market research

Marketing research is a multi-stage process. First of all, the problem and the main goal of the study are determined. The second is developing a clear plan for collecting information, using secondary and primary data. In the third turn, information is collected using laboratory and out-of-office research. At the fourth step, all the data obtained is analyzed in order to derive some average indicator and reveal certain relationships. Finally, at the last step the final result is output, thanks to which specialists can make decisions based on real research indicators, which will entail a greater percentage of correct decisions.

Marketing research is conducted with the help of various research instruments, such as a survey, observations, questionnaires and an experiment. Also, methods of communication with people, by type of mail, telephone or personal conversation are used.
Primary marketing information is obtained with the help of "field" actions, like polls, various observations and experimental studies. The resulting data ultimately have a number of positive points: they are very reliable, they are not learned from competitors, they are controlled and there is a clear idea of the method of their collection. However, there is also a negative side to this issue: the collection is too long, the firm can not always find it completely by its own efforts and at the end it is an obvious high cost.

Secondary marketing information is obtained by different "desk" research, which was collected much earlier for other purposes than it is for the company at the moment. This includes various reports, accounts, budgets, stocks and so on. For small and even medium-sized companies - this is the most pragmatic way of collecting marketing information. Most often, it is the collection of secondary marketing information that comes first, rather than the primary one. First of all, this information gets in a cheaper way than the primary one. In addition, again, comparing with the primary, the timing of obtaining secondary information is always ahead of the time of the primary. But negative phenomena secondary marketing information is in itself: from its certain incompleteness, all research as a whole can suffer. In addition, such information can not be confirmed in any way, what is its other minus. At times, the methodology by which methods of collecting marketing information must be built is completely unknown.
Primary data for more serious work: familiarization with the situation in this industry, with the tendency of volatility in the volume of profit and sales, with the latest achievements of technology and science.
It is very important to make the right methods of gathering marketing information. Otherwise, all the information collected may become either partially or completely unnecessary. It is necessary to know that for many vital research it is important to collect primary information. For this, the best option for continuing is a good, clear plan for future work. He also determines which tools will be used further. Methods of collecting marketing information related to the primary, have four main options: observation, imitation, experiment and questioning.
Marketing research does not necessarily have to be expensive and incredibly complex. Quite calmly you can achieve the planned goal, thanks to the analysis of their own data, various surveys of buyers and experts.

The cost of marketing research directly depends on the information you need to find, the amount of new data, the degree of formalization of research and the complexity of the analysis.