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“Half of my marketing budget is wasted, I just don’t know which half…” Strategic <More>Primary Market Research Is customized original research usually accomplished by interviews, surveys, field tests, or observation. It can provide insight about customer satisfaction, new product ideas, or web site product support. It usually takes longer and costs more than secondary research. Secondary Market Research Is the suggested place to start to get a good understanding of your industry, and can provide significant information available through existing published data or studies previously performed by government agencies (Census Bureau), trade associations and other organizations. Although secondary research is less expensive than primary research, it's not as specific as customized research. For example, secondary research can tell you what the gross margins are in your industry, but not what customers might be willing to pay for your new product. |
