MANAGEMENT

Detailed explanation-1: -You can also obtain secondary research by reading articles in magazines, trade journals and industry publications, by visiting a reference library, and by contacting industry associations or trade organizations.

Detailed explanation-2: -For example, if a company intends to enter into women’s apparel and wants the India market size, then it can resort to secondary data like industry reports & newspaper articles while if it wants to study the preference of consumers for a new type of fabric/style, then it must conduct primary research like surveys.

Detailed explanation-3: -Secondary data is quite valuable, as you can use it to find facts, to build models, and for database marketing. Your own company may keep internal records for sales, expenses, and customers which may be useful. To identify market trends, patterns and changes, tap into the many sources already available.