What is Secondary Research?
Secondary research is a type of marketing research that involves gathering and analyzing existing data and information that has already been collected by other sources, such as government agencies, trade associations, market research firms, and academic institutions. This data can include reports, surveys, statistics, studies, and other types of information.
One of the primary benefits of secondary research is that it can be cost-effective and time-efficient compared to primary research, which involves collecting new data through surveys, interviews, and other methods. Secondary research can also provide a broader perspective of the market and industry trends, as it often covers a wider range of data sources and can be used to verify or challenge primary research findings.
However, one of the limitations of secondary research is that the data may not be specific enough to the research objectives or the business’s unique needs. Additionally, the quality and reliability of the data may vary, and it can be challenging to ensure that the data sources are reputable and up-to-date. Therefore, it is important to carefully evaluate and select the appropriate sources of secondary research to ensure the data is relevant and reliable for the research objectives.
Why Secondary research is effective
What are in-depth interviews for?
Secondary research is used to gain insights into industry trends, customer behaviors, competitor strategies, and other important market factors. It can be conducted through various sources such as online databases, public records, company websites, and professional journals.