MANAGEMENT

Detailed explanation-1: -Secondary research data involves gathering and synthesizing information gleaned from other sources, such as research reports, websites, or government files.

Detailed explanation-2: -Step 2: Design the Research The next step in the marketing research process is to do a research design. The research design is your “plan of attack.” It outlines what data you are going to gather and from whom, how and when you will collect the data, and how you will analyze it once it’s been obtained.

Detailed explanation-3: -Market research, also known as “marketing research, ” is the process of determining the viability of a new service or product through research conducted directly with potential customers.

Detailed explanation-4: -What is data collection in market research? Data collection entails gathering all the necessary raw information for your market research. Some people also extend the definition to include analyzing that data to extract valuable insights for your research objectives.