Primary market research helps businesses minimize their risk and stay ahead of their competition. Vault Consulting is Virginia’s premier source for research and accounting services.
What is primary market research?
Primary market research refers to the collection of data directly from its source. Primary market research takes raw data, typically gathered through focus groups or surveys, and uses it for a variety of business purposes.
This type of research is often carried out after a company receives information from secondary sources. Primary market research might be necessary when data collected from these sources does not fulfill the company’s requirements.
Benefits of primary market research
Primary market research provides a number of benefits for businesses and organizations. Because the organization has complete control over the process, primary market research can be used to address specific issues. The company performing the research should be able to focus their efforts on finding data in regards to a specific market. When primary market research is conducted by an experienced company such as Vault Consulting, the collected data can be examined and interpreted based on the marketer’s unique needs.
Most of the time secondary data is not up-to-date or relevant to the situation that the marketer is attempting to address. A qualified research team can use this information to establish trends or to find a relation with the company’s current scenario.
In addition to the aforementioned benefits, organizations that collect primary market data own that information and can choose to keep it private, giving them a competitive edge over their competition.
Why choose Vault Consulting?
Vault Consulting offers extensive primary market research for a variety of industries. Our customized solutions can help your company meet and exceed their business goals. Unlike many other research firms, we specialize in surveying hard-to-reach populations. We work directly with you to develop a research program that is suited for your budget and your needs. Our experienced team offers quantitative research, qualitative research, quantitative and qualitative studies, online research applications, on-site research, mobile research, social media monitoring and video capture research.
Vault Consulting provides full service outsourced accounting and research programs to help associations, nonprofits and their affiliates meet business goals and advance their missions. For more information about our primary research marketing services, please contact us today.