If you’re planning a multicultural marketing campaign, you need all the data you can get. After all, collecting data for market research is the first step of understanding your audience and identifying their pain points.
Here are the two main types of data you should know about.
Primary Data
Primary data is the original information you collect during your market research activities. It’s the data collected first-hand from primary sources to address unique research goals or needs. Primary data can be qualitative or quantitative, depending on what information you collect and how you analyze it. Depending on the nature of your research, the data may be exploratory or very specific.
Primary data is popularly used because it gives researchers an in-depth insight into specific research questions and provides them with fresh perspectives. They can also customize the data according to their needs to obtain conclusive results. However, since primary data is usually lengthy, collecting and analyzing it are time consuming tasks.
Most primary data is collected through:
- Customer observation
- One-on-one interviews
- Focus groups
- Customer surveys
- Detailed questionnaires
- Product testing and analytics
Secondary Data
In contrast, secondary data refers to information that has already been collected by others and that you ultimately use for your market research. Researchers don’t obtain this data through first-hand sources. Instead, they use external sources to get the required information.
Secondary data can be qualitative or quantitative. It’s popularly used in market research to get broader insights regarding the target market and better understand market trends. It also helps marketers identify any existing gaps in the research and identify new opportunities. Moreover, it’s easily accessible and quicker to obtain and analyze. However, the data may be too generic or obsolete, and marketers don’t have control over the information.
Most secondary data is collected through:
- Industry reports and insights
- Government reports and surveys
- Research studies
- Journal articles and academic papers
- Newspapers, magazines, and other publications
- Archives
- Case studies
- Product reviews
- Data analytics
- Sales and revenue analytics
- Customer behavior analytics
- TV, radio, and other multimedia sources
Multicultural Market Research Made Easier
Struggling with your market research? That’s what we’re here for! Our multicultural marketing research firm can help you obtain useful insights from your target audience and create impactful campaigns.
Ethnotics is an experienced multicultural marketing research agency in NY that helps brands with their market research and analysis. Whether you need assistance with primary research or secondary research, we’ve got you covered.
Reach out our team today to get started.
