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Marketing research requires data, and secondary data is often the most convenient and cost-effective option

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Marketing Research Plan and Types of Market Research

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econdary data is information gathered for purposes other than the completion of a research project. A variety of secondary information sources is available to the researcher gathering data on an industry, potential product applications and the market place. Secondary data is also used to gain initial insight into the research problem.

Primary vs. Secondary, 2011) - My Market Research …

An explanation of the differences between primary and secondary market research methods.
There are several problems in using accounting and financial data. One is the timeliness factor – it is often several months before accounting statements are available. Another is the structure of the records themselves. Most firms do not adequately setup their accounts to provide the types of answers to research questions that they need. For example, the account systems should capture project/product costs in order to identify the company’s most profitable (and least profitable) activities.

 

Online secondary data for market research - …

What are the advantages of secondary market research?  …
Secondary data is classified in terms of its source – either internal or external. Internal, or in-house data, is secondary information acquired within the organization where research is being carried out. External secondary data is obtained from outside sources.

27/07/2017 · What are the advantages of secondary market research
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Secondary market research:-secondary data is the ..

As a general rule, a thorough research of the secondary data should be undertaken prior to conducting primary research. The secondary information will provide a useful background and will identify key questions and issues that will need to be addressed by the primary research.

Secondary Market Research: Advantages and ..

Internal secondary data is usually an inexpensive information source for the company conducting research, and is the place to start for existing operations. Internally generated sales and pricing data can be used as a research source. The use of this data is to define the competitive position of the firm, an evaluation of a marketing strategy the firm has used in the past, or gaining a better understanding of the company’s best customers.