Sources of information for market research

Proper market research must start with a good definition of the objectives and needs. Once defined you can proceed with the collection of information.

#1. Secondary information

It consists of information previously collected by an organization or institution, usually government or private companies like banks, and is in the form of published data, primarily statistics or studies. It is found in libraries, publishing and information services such as INE, Statistical Office of the Autonomous Communities, Center for Sociological Research, National Institute of Consumer, business directories, trade register Chambers of Commerce.

It is a source of information more cheaply than the primary. If the information thus obtained is not sufficient, it should continue with primary information sources, but if you have the necessary data can terminate the investigation.

#2. Primary information

It is information produced or published and not obtained directly from the market by the company. It is used to analyze the behaviors, attitudes or subjective aspects of consumption and to debug or test the secondary information inaccurate.

#3. Personal observation

Lets get accurate information about people, not that they are warned, and situations. The information thus obtained directly from reality.

It is useful for all types of businesses, but is one of the most widely used techniques for business initiatives that have local trade or the street.

Among the most used are:

• Sample Street: The individual notes placed in a location near the entrance to the establishment and inspected every day for 20 or 30 minutes at different times in which records the number of customers falling, many come with purchase, the time they are inside, your profile (male, female, age, etc.).. Observations should be conducted during a period of seven to ten days.
• Observation of use: Consists of watch and record customer behavior while making the purchase: how do, where you will first choose how long it takes, etc.. This involves analyzing the behavior to adapt the operation of the company's future.
• Observation does not buy: We performed as a control mechanism for customer satisfaction. Is to observe the behavior of customers who come in, they take a trip, ask and just walking away without buying.
• Store Rating: It consists in assessing general aspects of the establishment such as light, window, distribution, furniture, etc.. Technique can be used as internal improvement.
• Observation / interview pseudo or mystery shopper: This is a false interview of purchase. The observer adopts the role of client and act, following a script with the elements to be studied, as if to make a purchase. With this technique provides information on customer treatment, most recommended products, prices, exposure, choice, and so on. It is necessary to transfer the collected information to a tab at the end of the visit to remember all the data.