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Market Research Techniques: Primary and Secondary Market Research

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Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry. Secondary research uses outside information assembled by government agencies, industry and trade associations, labor unions, media sources, chambers of commerce, and so on.

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Secondary market research is usually thought of in terms of two categories: Information from internal sources (held by a particular company or agency), and information from external sources (held outside of a particular business enterprise, organization, or agency).

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Secondary research is conducted by market research companies for following purposes: To gather data from already available sources. To gather data in limited time frame. Secondary market research is when you use previously completed studies and apply the results to your own situation. These studies are easy enough to find via an internet search or by researching marketing journals—and, on the upside, are usually free or low cost.

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By far the most widely used method for collecting data is through secondary data collection, commonly called secondary research. This process involves collecting data from either the originator or a distributor of primary research (see Primary Research Tutorial). In . Secondary market research will always have second priority over primary market denisseportal.tkr, in many cases, secondary market research itself plays a pivotal role. Such that in the end you wont need primary market research. Hence, for many companies, secondary market research is the first step in conducting market research.