Secondary Research – Old research; examining information that has already been published or collected
To remember what secondary research means use the following mnemonic:
She got her information from second hand book stores and the library (secondary research). It was old research material, but it was useful.
Primary meaning prime condition and new information
Secondary meaning second hand books and old information
Secondary market research is second hand information that has already been gathered. It is information that can be found from a variety of sources including:
- Newspaper articles.
- Online sources.
- Journal articles.
- Government statistics.
- Competitors reports.
In carrying out secondary market research, a company may find quantitative or qualitative information from sources that can already be found. This can help inform decisions being made in business and act as the base for any following research conducted by the company.