I’m working on a writing discussion question and need an explanation and answer to help me learn.
Primary data refers to data from primary or original research performed by a company or person for a particular purpose. Secondary data is about research previously completed by someone else for a different purpose. Both have important uses, but both also have limitations. Using your textbook and your own research, compare and contrast the use of primary versus secondary data. Include the benefits and liabilities of each.
Required TextAaker, D. A., Kumar, V., Day, G.S., & Leone, R.P. (2015). Marketing research (12th ed.). Hoboken, N.J.: John Wiley & Sons.The full-text version of this ebook is available through the RedShelf platform.Required ReferencesAlanis Business Academy. (2012, October 25). Market segmentation (Links to an external site.) [Video]. YouTube. Retrieved from Market segmentation is a process used by marketers to identify a smaller segment of an overall market. In this video I’ll explain how marketers engage in market segmentation, and ultimately what value this provides businesses.Alanis Business Academy. (2013, March 31). How to use market segmentation: Developing a target market (Links to an external site.) [Video]. YouTube. Retrieved from Market segmentation is a commonly utilized concept in business where a larger market of consumers is divided into smaller groups of consumers who share certain characteristics. The goal is to generate what is known as a target market, which is an identifiable group of consumers who behave in a similar way, have similar interests, and share similar characteristics. Firms utilize demographic, geographic, psychographic, and behavioral segmentation as a way of generating a target market. In this updated video on market segmentation we discuss the target market as well as explain how firms use market segmentation to generate a target marketBranthwaite, A., & Patterson, S. (2011). The power of qualitative research in the era of social media. Qualitative Market Research, 14(4), 430-440. https://doi.org/10.1108/13522751111163245Douglas, S. P., & Craig, C. S. (2006). On improving the conceptual foundations of international marketing research. Journal of International Marketing, 14(1), 1–22. https://doi.org/10.1509/jimk.14.1.1Fitzgerald, J., Sullivan, G., & ?oki?, B. (2012). Customer orientation and business performance in community banks: A five year comparison (Links to an external site.). Singidunum Journal of Applied Sciences, 9(2). Retrieved from http://journal.singidunum.ac.rs/files/2012-9-2/cus…Shaw, E. H. (2012). Marketing strategy. Journal of Historical Research in Marketing, 4(1), 30-55. https://doi.org/10.1108/17557501211195055Wind, Y. (1978). Issues and advances in segmentation research. Journal of Marketing Research, 15(3), 317-337.
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