Business

Study Notes

Primary Market Research

Level:
A Level, IB, BTEC Level 3
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Primary market research is research data that is collected first-hand for a specific research purpose.

Examples of primary research methods

Common methods of obtaining primary market research include:

  • Focus groups
  • Interviews (online & in-person)
  • Surveys & questionnaires
  • Mystery shoppers
  • Product testing and product trial

Advantages and drawbacks of primary market research

Advantages

Directly focused on research objectives = fit for purpose

Tends to be more up-to-date than secondary research

Provides more detailed insights – particularly into customer views

Drawbacks

Time-consuming and often costly to obtain

Risk of survey bias – research samples may not be representative of the population

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