MANAGEMENT

Detailed explanation-1: -Secondary research is a type of research that has already been compiled, gathered, organized and published by others. It includes reports and studies by government agencies, trade associations or other businesses in your industry.

Detailed explanation-2: -Government reports may consist of general information that is not usually industry specific but can still be useful for a business. Examples include ‘60 per cent of people aged 16–25 would consider working for £6.50 per hour’ or ‘25 per cent of the population is now aged 60 or above’.

Detailed explanation-3: -refers to information that has already been collected for a previous purpose, often by a third party that routinely performs such research. For example, government census data is secondary data-the government collects information about citizens’ household size, ages, and incomes for its own purposes.

Detailed explanation-4: -Secondary research or desk research is a research method that involves using already existing data. Existing data is summarized and collated to increase the overall effectiveness of the research.

Detailed explanation-5: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.