Pros and Cons of Primary and Secondary Market Research

With both types of market research, there are positives and negatives to them making secondary research more useful in some areas than primary research and vice versa.

Pros of Secondary Research
+ Often obtained without cost
+ Good overview of a market

+ Usually based on actual sale figures, or research on large samples

Cons of Secondary Research
Data may not be updated regularly
Not tailored to your own needs
Expensive to buy reports on many different marketplaces

Pros of Primary Research
+ Can aim questions directly at your research objective
+ Latest information from the marketplace
+ Can assess the psychology of the customer

Cons of Primary Research 
Expensive: £10,000+ per survey
Risk of questionnaire and interviewer bias.
Research findings may only be usable if comparable backdata exists.

12 Comments

  1. Anonymous September 25, 2011
  2. Will Green September 25, 2011
  3. Britney Palmer December 27, 2012
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  9. Will Green April 6, 2016
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