Marketing

The Product

The product that I am thinking about that should be taken to market through primary data is an app that uses crowd sourcing to locate essential commodities to the owner of the app.

Demographics

The product will mostly be marketed to females since research shows they spend more time on their phones compared to men. However, the app is not exclusive to women since men can use it as well. The race of the demographic does not matter since this product can be used by any and all races. The age of the target audience is between 18 and 45 since this group is the one that is most interested in technology. The income of the audience does not matter. Physical attributes of the target audience since this product is all inclusive.

Importance of Primary Data Collection for the Product

1. Any issues regarding the product are addressed.

2. It is easier interpreting this kind of data.

3. This data is rather recent.

4. There are no proprietary issues since this data is collected by the researcher for his/her own use.

Kind of Data and Uses of the Data

While there is a wide variety of data that can be collected using primary data research, some of the more important information includes consumer preference, competitor products, market price of the product and niche markets. The best way to collect such data would be through conducting focus groups. This would be the ideal method since the researcher can get first hand information from people that represent the rest of the population.

Disadvantages of Secondary Data

With secondary data some of the limitations can include;

1. Vagueness of data collected.

2. Data from secondary sources is not specific to the needs of the secondary user.

3. Secondary data may be out of date.

4. The source of the secondary data may not be reputable.

5. There might be proprietary issues with the data.