Secondary market research

• what is secondary market research also known as?


  desk research
• secondary market research involves gather existing data that has already been provided
• market research includes the following:

  • Internet
  • market report - demand and supply, prices and trends
  • government report - enables businesses to understand conditions in the economy
• what are the advantages of market research?

  • quick and easy to gather
  • often easy to analyse
  • cheaper
• what are the disadvantages of market research?

  • not specific to business
  • could be out of date
  • may be biased or inaccurate
• qualitative data 


  ususuallyally expressed opinions

  includes descriptive information

  gained using open questions
• quantitive data

  usually numerical data

  gathered using closed questions