Question

What is the purpose of exploratory research: What is primary research: What role does online research play in the overall market research toolkit:

Answer 1

Answer:

What is the purpose of exploratory research:

Exploratory research is research conducted for a problem that has not been studied more clearly, intended to establish priorities, develop operational definitions and improve the final research design. Exploratory research helps determine the best research design, data collection method and selection of subjects.

The purpose of exploratory research is to find out what potential consumers think and feel about a given subject. Exploratory research is also known as qualitative research which aids in identifying potential hypotheses. An exploratory research project is an attempt to lay the groundwork that will lead to future studies or to determine if what is being observed might be explained by a currently existing theory. Most often, exploratory research lays the initial groundwork for future research

What is primary research

Primary research is defined as a methodology used by researchers to collect data directly, rather than depending on data collected from previously done research. Technically, they “own” the data. Primary research is solely carried out to address a certain problem, which requires in-depth analysis.

Primary research is any type of research that you collect yourself. Examples include surveys, interviews, observations, and ethnographic research. A good researcher knows how to use both primary and secondary sources in their writing and to integrate them in a cohesive fashion.

Primary research is conducted when new data is gathered for a particular product or hypothesis. This is where information does not exist already or is not accessible, and therefore needs to be specifically collected from consumers or businesses. Surveys, focus groups, research panels and research communities can all be used when conducting primary market research.

What role does online research play in the overall market research toolkit:

Online research is conducted by several methods, including surveys, online focus groups and online monitoring. Companies with online properties have access to a wealth of web analytics data that are recorded digitally. These data can then be mined for insights. It’s worth remembering, though, that it’s usually impossible for you to access the web analytics data of competitors – so this method will give you information only about your own customers.

Customer communications are also a source of data that can be used, particularly communications with the customer service department. Committed customers who complain, comment or compliment are providing information that can form the foundation for researching customer satisfaction.

Social networks, blogs and other forms of social media have emerged as forums where consumers discuss their likes and dislikes and can be particularly vocal about companies and products. These data can, and should, be tracked and monitored to establish consumer sentiment. If a community is established for research purposes, these should be considered primary data, but using social media to research existing sentiments is considered secondary research.

The Internet is an ideal starting point for conducting secondary research based on published data and findings. But with so much information out there, it can be a daunting task to find reliable resources.

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