MANAGEMENT

Detailed explanation-1: -Secondary data refers to data that was previously collected for a different purpose besides the research at hand. This means the data has already been collected, generally by another individual or organization. Secondary data is used for different purposes but can be used specifically in marketing research.

Detailed explanation-2: -Why Do Market Research? Market research provides critical information about your market and your business landscape. It can tell you how your company is perceived by the target customers and clients you want to reach.

Detailed explanation-3: -Research sources range from simple trade statistics, to in-depth market surveys, to firsthand interviews with public-and private-sector experts. Trade statistics indicate total exports or imports by country and by product. They allow you to compare the size of the market for a product in various countries.

Detailed explanation-4: -One of the advantages of obtaining and using marketing information is that it helps business managers to. predict and control risks. train and direct employees.