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Secondary Market Research

This one is becoming one of the most popular methods. And it is relatively affordable, too.

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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. For small businesses with limited budgets, most research is typically secondary, because it can be obtained faster and more affordably than primary research.

Secondary Research Methods?

In short, secondary research is data and insights that you do not collect yourself. It can include quantitative and qualitative information. There are many types of secondary research sources, such as:

* Published market studies
* Competitive information
* White papers
* Analyst reports
* Previous in-house studies
* Prior internal focus groups
* Customer emails
* Customer surveys and feedback
* Recordings of internal and external meetings

Advantages of Secondary Research

1. Most information in this research is readily available. There are many sources from which relevant data can be collected and used, unlike primary research, where data needs to collect from scratch.

2. This is a less expensive and less time-consuming process as the data required is easily available and doesn’t cost much if extracted from authentic sources. A minimum expenditure is associated to obtain data.

3. The data that is collected through secondary research, gives organizations or businesses an idea about the effectiveness of primary research. Hence, organizations or businesses can form a hypothesis and evaluate the cost of conducting primary research.

4. Secondary research is quicker to conduct because of the availability of data. It can be completed within a few weeks depending on the objective of businesses or the scale of data needed.

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IRCOIT STREAMLINED PROCESS

Market Research

We deploy a multiple market research activities to gain the perfect data & insights of each projects

Data Building

Once the research analysis is over, we gather all the semi-structured data in one place

Data Validation

All the data get through a proper validation under several resources and legal compliance

Privacy Updates

During the data validation program, we also deploy an opt-out campaigner to let the audience unsubscribe on demand of each project approval. These activities help us to get the accurate file upon delivery.

Database Delivery

Upon satisfaction of data nurturing, validation, privacy updates, now it's time to prepare an excel/.csv file and upload them to the server so the client can download the file through an end-to-end encrypted server.

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