There are pros and cons of both primary and secondary research methods especially when a new or revised product launch is going to happen. While launching a new and revised mp3 player, it is necessary that the pros and cons should be analyzed before conducting primary and secondary research. Therefore, pros and cons of new product launch and revised product launch are discussed below.
Pros and cons for new product launch
Before the launch of new product of mp3, it is necessary that the research methods should be used it will easily assess the market trends. It can be said that the use of research methods for new product launch is positive as well as motivational. The primary research method is motivational for staff because it increases their interest to put effort for which that is new and not tried before.
Cons for New Product Launch
With positive aspects of research methods, there are some negative ones as well. The reason is that research for a new product launch can be expensive because it required both primary as well as the secondary survey. Moreover, it is also time-consuming as it required consumer survey, and trend analysis on the basis of the market survey. For that, questionnaires and interviews help to collect data.
Pros for Revised Product Launch
As the availability of any past data makes the current research easy, therefore, it can be said that the use of secondary research method is beneficial for the launch of revised product. Moreover, the positive thing is that it provides the past data that makes it easy to compare the current market trend and those points which need to be revised before launch. Also, the available facts and figures save time as well as it is a less expensive strategy to launch revised product.
Cons for Revised Product Launch
It gets hectic for the employees to conduct research on the new features and facts. As it needs efforts and lots of dedication to collect data the staff gets de-motivated as there is nothing new to explore but to find out further new points regarding the same product.
Research Methods
The new product launch or revised product launch requires research to be done. The purpose to use different research methods is that mp3 player revised product launch will require awareness among customers and data will be collected according to liking and disliking for new mp3 player. In case it is a revised version of mp3 player the purpose to conduct research is to inform consumers about the latest addition to the features of the mp3 player. It helps to analyze their opinions regarding the new features. As both situations are different, therefore, different research methods should be used. For that, the application of research methods will also be different. For example, if a new mp3 player is going to be launched then it is necessary that the market trends should be analyzed. Moreover, the rival products must be reviewed to analyze the current competitor strategies. While launching revised version of mp3 player it will be difficult to get the accurate results by using research methods because competitor’s actions are not accessible regarding the added features in future. It should also be noted that the budget is also one of the reasons for the difference in research methods of both situations. It is because the launch of new mp3 player will require high budget as it huge data will be needed through qualitative and quantitative methods regarding market trend, consumer choices, and rivals. On the other hand, revised mp3 player launch needs a low budget as the relevant data will be less so it will use fewer research methods and efforts.
References
Krishnamurthy, S. (2010). Contemporary Research in E-marketing. New Jersy: Idea Group Inc (IGI).
Walliman, N. (2010). Research Methods: The Basics. New York: Taylor & Francis.
