An inexpensive, rapid way to gather Market Intelligence
Secondary research definition
Secondary Research is also known as desk research. It involves the identification and analysis of relevant, pre-existing data and expert thought pieces in order to inform planning and decision-making in relation to issues such as:
- Market entry or exit
- Investment allocation
- Distribution strategy development
- Pricing strategy development
- Grant applications
In addition to the above, secondary research is also frequently undertaken in order to identify suitable companies or individuals to take part as respondents in qualitative or quantitative research projects.
Secondary research advantages
The main benefit of secondary research is that it is highly cost-effective, involving a rapid but intensive trawl of available online resources to piece together a comprehensive picture of the subject under review.
Secondary research examples
In addressing the above, typical secondary work activities include:
- Calculating current market or brand value
- Estimating future, annual growth potential
- Creating a detailed picture of the competitor landscape, including the size of individual brands; their marketing strategies; their strengths and weaknesses, and market sweet-spots
- Developing customer value segmentation models
- Identifying emerging trends before they become mainstream
- Identifying regulatory barriers to market
- Identifying new local distributors or routes to market
Secondary research information resources
To identify the required information our secondary research methods include reviewing:
- Industry reports and white papers
- Government statistics and reports
- Trade and industry association data
- Company websites
- Directories
- Policy documents
- Sector-specific trade journals and publications
- Government reports
- Relevant industry and product associations within each country
- Analysts notes
- Conference speeches and presentations
We’ll also take a look to see if there are any paid-for reports that can help answer the exam question. If there are, we’ll discuss the contents of these with you, so you can decide whether or not to purchase them and add them to the data we have amassed from free-to-access sources.
Our secondary research experience
Our deskwork experience is considerable and wide-ranging, from calculating the annual tonnage and value of string and thread used by various industries in Brazil, to determining the number of B2C and B2B companies of different sizes and sectors that are selling their goods via online market places throughout Europe.
To find out more about Brandspeak’s desk work capabilities and experience, please contact us at enquiries@brandspeak.co.uk or on +44 (0) 203 858 0052
Your Challenge
FIND OUT HOW OUR RESEARCH CAN HELP YOUR BUSINESS
What ever your market research goal, whether you need to develop your brand, bring a new product to market or or optimise your customer experience delivery – we can help.
