Data for market research is gathered through both primary and secondary research.
- Primary data: is based on research that you conduct yourself using tools such as surveys, polls, focus groups, and interviews. Primary research is used to address a specific problem. While primary data can be more thorough and insightful, it is costly and time consuming.
- Secondary data: is based on research done by others, such as government agencies, market research firms, and trade associations. Examples of secondary sources include statistics and market research reports. These sources can save you a lot of time but as you have no control over how and what pieces of data were collected, they may not always be specific enough for your needs.
This guide focuses on secondary sources available. Please follow the links to the left to find a wealth of information to aid in your research.
