Secondary market research involves gathering and analyzing existing data and information that has been collected by someone else. It includes using sources such as books, articles, reports, surveys, and databases to obtain insights and knowledge on a specific topic or research question. Unlike primary research, which involves collecting data firsthand, secondary research relies on previously published or recorded information
. This type of research is cost-effective and can be obtained faster and more affordably than primary research, making it a valuable tool for businesses with limited budgets. Examples of secondary research methods include internet searches, government and agency reports, research journals, and trade publications
. In summary, secondary market research is an important component of the market research process, allowing businesses to make informed decisions by leveraging existing data and information from a variety of sources
