L.O.5 data

Primary research is when a company or individual does their own first hand research about their target audience. This consists of finding out about audience feedback, which means they give personal opinions about the product directly to the producer. Examples of primary research would be reviews on certain products and social media. An advantage of this is that it is a lot cheaper than using data collection services such as the BARB. Online surveys provided by the company/institution are very cheap to produce and easy for the customer to fill out. A disadvantage of this would be since they are not using research companies, those companies are not getting paid. Also it is time consuming as it takes time to collect the data and make the survey.

Secondary research is where a company or individual asks a data collection service such as BARB for information on the type of demographic partaking in the media text. An advantage of this would be that the evidence is already available to obtain so it saves the media company a lot of time. Companies such as the NRS collect data from readership and circulation, so they can find if the newspaper is worth being printed and how many of them should be produced, this helps companies save money on production costs resulting is less wasted funds. A disadvantage of this is that it costs the institutions money to keep the data of media companies such as the NRS. Also the NRS do not take into account the readership of online readers, therefore the newspaper may think that the product is failing when in fact it is going really well online.

Primary research methods- online surveys, social media comments, face to face surveys and telephone marketing.

Secondary research methods- BARB, NRS, RAJAR

Quantitative research is a type of research that can be given in a numerical figure. This is when a consumer could rate a product out of ten. Also, it could be when a company has statistical evidence of of readership of circulation. Advantages of this would be that a company would get an idea of how good their product is based on its sales. Disadvantage is that it does not show a company how to improve. Also it does not give them feedback on what customers like so it makes things a lot more difficult.

Qualitative data is a type of data that is based on information about qualities and does not use a measuring scale. An example of this would be opinions on products. An advantage of this would be a larger scale of information about their product which they can read and then improve on. A disadvantage of this would be that due to the lack of a measuring scale there is nothing to compare and contrast the gathered data to.

product reach means that the product is likely to be successful and will make a profit through sale numbers or advertising revenue. The BARB and RAJAR conduct this for companies operating within the TV and Radio industries

for audience feedback, You want to learn about the major demographics of the audience, such as general age, gender, education, religion, and culture, as well as to what groups the audience members belong. Additionally, learning about the values, attitudes, and beliefs of the members of your audience will allow you to anticipate and plan your future products related to your main audience.

Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. so media institutions spend a lot of time on it to manage their future plans to beat other competitors so the audience prefer their product.

A gap in the market is a product or service that does not exist, so that there is an opportunity to develop that product or service and sell it.

Market possibilities is when actions are made based on the audience's feedback for example sequel films and spin off series because that is what the audience wanted.

research is presented in data format so it is set out clearer for people to see and so its quicker to get to the point of a research topic rather than reading lots of information that most is not needed