MANAGEMENT

Detailed explanation-1: -Secondary research is much more cost-effective than primary research, as it uses already existing data, unlike primary research, where data is collected firsthand by organizations or businesses or they can employ a third party to collect data on their behalf.

Detailed explanation-2: -Secondary data often doesn’t require the lengthy process of gathering materials and distributing them, so it’s not as costly as primary research. The research doesn’t require much effort. Secondary research can be simple to conduct, and most marketers conduct it themselves without hiring outside help.

Detailed explanation-3: -Secondary data analysis involves a researcher using the information that someone else has gathered for his or her own purposes. Researchers leverage secondary data analysis in an attempt to answer a new research question, or to examine an alternative perspective on the original question of a previous study.

Detailed explanation-4: -Secondary research is often less expensive than primary research. Since the data is out there already, the most considerable expense is usually the workforce to find and interpret the data.