What is secondary research in marketing?

Question

Justin Parker · Accepted Answer

Secondary research in marketing is when an organization collects and analyzes pre-existing data that has already been gathered by other sources not primarily related to the organization. This form of research is used when an organization does not want to collect its own data from its customers, or primary sources, for whatever reason.

Secondary research in marketing can pull from a wide variety of different sources, some common examples include:

Academic studies
Published reports
Market research studies
Government statistics
Industry-related publications

The main objective of secondary research in marketing is to collect useful information that can then be utilized to inform an organization's marketing approaches, strategies, and campaigns. The data gleaned from these practices can play a major role in the marketing decision-making process. Some of the primary functions of the information might include:

Understanding consumer interests, behaviors, and patterns
Identifying consumer trends and different opportunities in a specific marketplace
The evaluation of competitors in a specific marketplace
Metrics for overall effectiveness and success of marketing campaigns

Some other common sources of secondary research in marketing are:

Published reports and studies from industry associations
Published reports and studies from market research firms
Publications and articles found in trade journals or magazines
Government data, in the form statistics, found on public databases
Company reports that have been made public, such as financial statements or annual reports
Databases that can be accessed online and search engines

Secondary research in marketing can be very beneficial to organizations who are looking to improve their marketing strategies and overall campaigns. Not only can the information obtained be highly informative, but it is also often a cost-effective option for acquiring valuable data and information on consumers and competitors.

However, it is always important for organizations to properly vet the sources of the information they obtain through secondary research in marketing. It is also pertinent for the organization to scrutinize the data in terms of its specific relevance to the marketing question, issue, or solution it is currently contending with.