Simplistic Guide to Primary Market Research
Primary Market Research is researching customers, markets and gathering information on the spot. Seeing them do it with your eyes, handing out questionnaires and answering customer feedback surveys. All information that is was not created at any other time then right then when you witnessed, asked them or heard it. Remember
Primary Market Research is Information gathered directly from consumers
Secondary Research is any research that is collected by someone else (Case Studies, Journals, Word of Mouth, this articles)
You always want to ask and receive answers to questions that keep going more and more below the surface.
Here are a few examples below
“What Generation is the majority of customers?”
“Are the majority of my customers Male or Female?”
“Do the majority of my customers drive, walk or take a bus here?”
“Is it mostly married men that shop at my store or unmarried?”
You then can then analyze and observe all the men that come in with wedding rings compared to the men who don’t. Always take notes.
Verbal primary research include methods are interviews, questionnaires, focus groups, customer feedback, cold calling, (No good) or even by just getting in a small conversation with a consumer about your business is a great way to understand more about the consumers, your business and the industry and competition.
More about Visually:
- You can watch what a specific age, gender, family or shoot for a specific product and write it down.
- If most of your consumers are married, if most consumers who buy a specific item are married.
- If there is a reason married people come in when there is a specific promotion on, on a specific day. In-depth categorization and segmenting markets.
It is very important you understand primary research, as all the assessments rely on Primary research. The assessments are practically just questions and you want to answer all of them, by asking different markets and even Internal members of your organization. In a way, where there is no bias and they don’t feel persuaded to answer in a certain way.
Once you have collected a certain amount of information, let’s say 25 Individuals you collected information from, you then want to start analyzing it.
If you haven’t learned much about analyzing data on a computer and you only have 25, you can just try and find relationships and things in common, that your consumers have who come into your business or a little more in-depth, that buy a specific product and if any of those individuals have something in common. They will obviously have gender, age, generation, lifestyle, in common. When you start going deeper, that’s when the benefits really start to come in. See if any of the activities, services or reasons they came to your store. For example, interest in specific products or promotion.
You want to see if there is something specific that influenced the individuals who have something in common. Once you start noticing patterns between consumers with specific age, gender or marital status in common that buy a specific product or come in on a certain day. Those become markets. Sometimes they may be target markets, who just enjoy your business or target markets for a specific product only. You then want to understand why they are there and you will find patterns. When you find patterns, it usually means there is something about that product that resonates and attracts a specific person with those same attributes.
Once you have collected that information, there are many Apps that you can use now to enter them into files such as Excel. Put the age, gender, marital status, class, etc. With their answer to a question, or you witnessed them buying a product, and enter the product in. You can tap analyze and it will show you all the relationships and correlations of users. It will group them by selecting different sort types, if you want. Whether two people are the same that bought one of your products, they are both female who are the same age, they don’t have much time on their hands, they are in school, they both like the … “Sauce” on their salad. Or they both like, a Specialty drink etc.
If you really get into primary research, there will be no more betting or much risk. The consumers literally know best, especially when you have large amounts of people to analyze.