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| CPAC Advantage |
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| PRIMARY RESEARCH |
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Research Activity |
Success depends on a lot of things, but when you have information about a particular market segment, a geographic area, or customer preferences, you'll be better prepared to make the decisions that can make or break your business.
Many companies use market research as a guide. Whether you want to :
expand your business into a new area,
territory/area/market entry,
site selection or,
Introduce a new product or brand, primary and secondary market research can provide valuable insight to help you shape your business and prevent costly missteps.
Simply put, primary research is research that's tailored to a company's particular needs. By customizing tried-and-true approaches — focus groups, surveys, field tests, interviews or observation — you can gain information about your target market. For example, you can investigate an issue specific to your business, get feedback about your Web site, assess demand for a proposed service, gauge response to various packaging options, and find out how much consumers will shell out for a new product.
Primary research delivers more specific results than secondary research, which is an especially important consideration when you're launching a new product or service. In addition, primary research is usually based on statistical methodologies that involve sampling as little as 1 percent of a target market. This tiny sample can give an accurate representation of a particular market.
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Business Consulting
