According combined respondent location data. For that
According to many articles about marketing, business market research is very important process of collecting data to determine particular products or services will satisfy the needs of certain customers. With effective market research, companies can gain invaluable information about their competitors, economic shifts, demographics, the current market trends and the spending traits of their customers.There are some certain tools that companies or individual can use for market research. Mintel is one of them. According to Mintel, Mintel is the market intelligence agency. From the data, more than 600 report titles that cover the United States marketplace are added to Mintel every year and each Mintel report provides a particular outline, overview of a market’s impetus and prediction. Companies, or individual marketer can use this information to create efficient business strategies for short and long term.There is an another data that market researcher can use their work in the United States.
The United States Census Bureau (USCB) is a principal agency of the United States Federal Statistical System that responsible for producing data about the people in the United States and economy. The data that published by United States Census Bureau may not be the most accurate information of the market, but this data collected by the United States Government, and this data can offer key insights data and chance of insight development for market researchers, mostly when this data has combined respondent location data. For that case, the data from the United States Census Bureau is very useful for using in market research on certain area, but many experts recommend to use this data as secondary research source that have to use in conjunction with other sources. For market research, there are many different kinds of methods that can be used to gather much of information and all of those information will fall into two different categories. Primary data, and secondary data. Primary data is the data that collected for the first time by the researcher. Primary data is often called real time data and mostly collected by surveys, observation, experiments, personal interview, etc.
Primary data is always specified to the researcher or organizations needs. It is quite expensive to collect primary data, because of the organization or researcher become a supervision themselves which needs investments and manpower. And there is secondary data which is already collected before the organization or researcher collect their primary data. The secondary data has collected and recorded by any organization or person not for a purpose and not related to the current research purpose.
Usually, secondary data collected from censuses, government, organization, books, and so on. It is quite easy to access to secondary data which means it can save organization or researcher’s time and expense. However, there is one thing that all researchers have to give their mind when they are going to use secondary data. This form of data has collected for the reason other than the current problems in mind, so the data might be limited or not accurate for current situation.Marketing research is very important to make effective, strong marketing plan. Therefore the data that collected and recorded by researcher have to be maximize the accuracy. According to many article, to use only one source for marketing is the worst movement for marketing behavior.
There are always unexpected variables on consumers side. To use mix of primary data and secondary data, organization or individual can reduce errors and improve their business marketing plan.