Market Research for the Entrepreneur
Primary and Secondary market research are the two basic types of market research. Secondary market research is available, often at little to no cost through Trade Associations, Public and Government resources. This type of research is often performed first because it gives you a general sense of viability and feasibility within a particular market sector or geographic location. Detailed census data, for instance, can tell you about the consumer's attitude and tendencies. Primary market research's purpose is to provide specific feedback on consumer interest in an offering. It is important to be careful to use a method that is appropriate for your target market. As mentioned by Karen Plesner in Part II of her video , using online surveys are only useful if people are willing or able to fill out a survey. It is often difficult to determine how valuable a particular research activity will be to your bottom line. However, it is often the assumption ...