What is Primary and Secondary Data in Market Research???
Primary data includes new information collected specifically for your purposes, directly from the people who know. Methods of primary data collection vary based upon the goals of the research, as well as the type and depth of information being sought. For example – Surveys and Focus group discussions. Secondary data is the data collected by others in the past. For example – Internet, Newspaper articles and Company reports. Primary data constitute the basis information to solve the marketing problems. Primary data are expensive and collection of primary data takes considerable time and efforts.
In primary data, you are the one who is going to collect data specifically for your current objective. You might conduct a survey; runs an interview or a focus group. You have to observe behavior or do an experiment. You are going to be the person who obtains this raw data directly and it will be collected specifically for your current research need.
For secondary data, you have to look in journals, libraries or go to online sources. Secondary data is published data and not original data.
Secondary research is often free. Secondary data is easily available on internet like US Census etc. You can apply that data by modifying it accordingly to your specific project. They are used for exploring, defining, and understanding problems, which can be solved by primary data. For collecting secondary data, there is no need for employing qualified, experience and capable research officer.