Name: Aman Jain

Batch and Roll Number: PGDMBDI2/2104

Individual Learning 2

Secondary Market Research

Secondary data is information that has already been obtained by an outside party. This can
include demographic data from official census records, research studies published by trade
associations, or presented findings from another company engaged in the same industry.
Internet Research
It is the act of conducting research utilising online resources, particularly free material on the
Internet. It employs online information or internet-based resources, leans towards the
immediacy, and tends to acquire information without paying a fee. It is concentrated and
purposeful. Internet research has significantly changed how concepts are developed and new
information is produced. Personal research on a particular topic, students conducting research
for academic assignments and papers, and journalists and other writers conducting story
research are common uses of the Internet. The term "research" is wide. It means "searching
things up" in this context. It covers any endeavour when a subject is chosen and an attempt is
made to actively acquire data in order to advance

Market Report
Sector-specific market research exist. They might offer particular information on an entire
sector. Such statistics like "46% of adults aged 35 to 50 frequent a coffee shop at least once a
month" might be found in a market study. This could help a business decide which clients to
target.

Authorities' Reports

Government reports could include generic data that isn't frequently industry-specific but is
nonetheless helpful to businesses. Examples include "60% of persons between the ages of 16
and 25 would consider working for £6.50 an hour" and "25% of the population is now 60
years or older." This data might be used by a company to decide what wages to give potential
hires, who its target market would be, or what sorts of items to provide.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.
It may include some post-collection analysis like a concern for quality or synthesis. For
example, on the Net, the Web can be searched and typically hundreds or thousands of pages
can be found with some relation to the topic, within seconds. In addition, email, online
discussion forums, and other personal communication facilities can provide direct access to
experts and other individuals with relevant interests and knowledge.

Market Research
Market research is the practise of evaluating the feasibility of a new service or product by
interviewing prospective consumers firsthand. Market research enables a business to identify
the target market and obtain customer comments and other input on their interest in the good
or service.
This kind of research can be carried out internally, by the business itself, or by an outside
market research firm. Surveys, product testing, and focus groups are all viable methods. The
goal of market research is to examine the market for a certain product or service to determine
how the target market will respond to it. Information collection for the purposes of product
diversification and market segmentation falls under this category.