Question

Secondary research can reveal a great deal about the competitive environment in which businesses operate. What...

Secondary research can reveal a great deal about the competitive environment in which businesses operate. What are the sources of secondary data, i.e. where would you look? If you didn’t find results that you were looking for, which other research method can you use? What are the instruments used to collect your data

Homework Answers

Answer #1

Primary sources of secondary data can be Government Files, Books, Published Sources, Unpublished Personal Sources, Newspapers, Journals, Website, blogs. These are data which has already been collected for some other primary study and made available to public.

If results are not favourable, then we might have to go for Primary Research Method where we decide what is it we are looking for. Accordingly, we conduct experiments, market research, etc. to collect the data needed. The important tools used to collect Primary Data include

1) Focus Group Discussions

2) Market Research

3) Interviews

4) Surveys

5) Social Media Monitoring

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