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Internal Sources of Secondary Data

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So, the first thing they require is marketing research: Hell, for most brands you don't need new segmentation or positioning studies every two years! Go to the file and find the last one done, learn from it before you decide a new study is required. The same is true for copy concept issues. If the concept is worth a damn, it has been researched before. Reuse data, stretch it out to the max and reserve your budget for truly new, necessary primary studies. That's why we developed our "research library.

And, it is organized for easy access. Now it is company policy that any research request has to include proof that the library has already been searched and found lacking-before any new can be conducted!

While this knowledge is stored in individuals' minds rather than on paper or computer disk, it can be as valid and valuable as more formal sources. Had the marketing manager quickly asked the most obvious internal experts-members of the sales force-to explain the sales decline, work on a competitive new product could have begun almost a year earlier.

In addition to the sales force, companies have discovered that marketing research personnel, technical representatives, advertising agency personnel, product managers, and public relations personnel often have expert knowledge of relevance to marketing problems.

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You currently have 0 posts. Internal Sources of Secondary Data. Internal sources of data entry is very much important and easy to get. If you internal data precisely then it won't be difficult for you to generate hypothesis and carry on the further process.

The main important function of having internal data is that it saves your time and resources. Internal data entry is already maintained you just have arranged it in a synchronized and systematic structure. Discussions Projects Articles Blogs Videos. Online Retailers in Hong Kong: Global BPO Market Implementation of E-agriculture in Bangladesh.

Human Resources role in the Target Corporation. Sources of Business Finance. Data Communications Analyst Course and Career opportunities. Get the data over Entrance Exams. Sources of New Ideas. Indian Retail Industry Report. Issues on Global and Indian Economy.

Inspirational Video on Network Marketing. Data Structures and Algorithms - Introduction. Business Adminstration Human Resources. Business Admin Human Resources Program. It has been observed that sometimes this method does not prove to be fruitful as dealers do not keep proper records and they do not want to waste their time in supplying information. This source of collecting primary data is of great importance.

Representative samples of consumers may be selected for conducting thorough investigation with regard to price, quality and use of the product. This method of collection data is very reliable as it establishes direct link between producer and the consumer.

Secondary data is already existing which has been collected and published by some individuals or institutions. This data is available at a very low cost and it requires lesser time to collect it. Business magazines and journals published periodically contain data which is very useful for marketing research; Newspapers such as Economic Times and Financial Express also contain data regarding business trends and market reports.

There are innumerable publications brought by Central and State Govts, which contain valuable data for conducting marketing research.

Census reports of the Government of India, Publications of Planning Commission; periodical publication such as Indian Review, various markets bulletins. Various trade associations like Chambers of Commerce, Export Promotion Council etc, publish useful data which is of immense help to the res warmer. This is another useful source of supplying secondary data. Market surveys and reports are important instruments in the hands of researcher for conducting marketing research. These are published by business houses or independent research organisations.

These pertain to specific lines of products. Publications of foreign Govts, with regard to trade and other important aspects of economy of respective countries and information published by UNO, ILO, IBRD International Bank for Reconstruction and Development serve useful purpose in making comparison of Indian conditions prevailing in other countries of the world.

Besides the above mentioned sources of marketing research, there are many other sources of supplying secondary data e. The secondary data collected from above mentioned sources suffer from certain limitations. The basis undertaken by different agencies for collecting data may not be comparable.

In other words, uniform basis may not be adopted for data collection. The data may be based on incomplete records under secondary source; data is collected for purposes other than marketing research.

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Secondary data is information that has been collected for a purpose other than your current research project but has some relevance and utility for your research. Sources of Secondary Data. You can break the sources of secondary data into internal sources and external sources.

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Secondary marketing research uses data that already exists and has been collected by someone else for another purpose. Sources of secondary data can come from within the firm itself – this is known as internal secondary data.

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ADVERTISEMENTS: There are two sources of information from where data for marketing research can be obtained. (A) Internal Sources: These refer to the sources of information within the organisation. In certain cases internal sources are indispensable without which the researcher cannot obtain desired results. Also, the research firm would use statistical models to come up with a sample group that is representative of your target audiences, making it very relevant to your business .

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Secondary research is research already published, and is the cheapest form of research because the data already exists for your acquisition. Secondary research can be split into internal and external research. Jun 06,  · Internal Sources of Secondary Data Internal sources can be classified into four broad categories: • accounting records • sales force reports • miscellaneous records • internal experts Accounting Records. The basis for accounting records concerned with sales is the sales invoice.