2. 2.

1 Distinguish between primary and secondary data in research

Primary research entails the use of immediate data in determining the survival of the market. The popular ways to collect primary data consist of surveys, interviews and focus groups, which shows that direct relationship between potential customers and the companies. Whereas secondary research is a means to reprocess and reuse collected information as an indication for betterments of the service or product. Both primary and secondary data are useful for businesses but both may differ from each other in various aspects. In secondary data, information relates to a past period. Hence, it lacks aptness and therefore, it has unsatisfactory value. Primary data is more accommodating as it shows latest information. Secondary data is obtained from some other organization than the one instantaneously interested with current research project. Secondary data was collected and analyzed by the organization to convene the requirements of various research objectives. Primary data is accumulated by the researcher particularly to meet up the research objective of the subsisting project. Secondary data though old may be the only possible source of the desired data on the subjects, which cannot have primary data at all. For example, survey reports or secret records already collected by a business group can offer information that cannot be obtained from original sources. Firm in which secondary data are accumulated and delivered may not accommodate the exact needs and particular requirements of the current research study. Many a time, alteration or modifications to the exact needs of the investigator may not be sufficient. To that amount usefulness of secondary data will be lost. Primary data is completely tailor-made and there is no problem of adjustments. Secondary data is available effortlessly, rapidly and inexpensively. Primary data takes a lot of time and the unit cost of such data is relatively high.

Conducting primary research occurs when a company is gathering information directly for themselves. This type of research is often conducted through the medium of questionnaires, observations and interviews. This method can often be very useful to companies because the results are specific to that particular business. The findings can also be regarded as being reliable and accurate because the company have conducted the research independently. Nevertheless, this type of research can be quite costly to a company. For a start, it will require a considerable amount of time for the research to be conducted, and primary research will also come with a much higher price than secondary research. A good example of this would be when a company is looking to investigate the potential success of a new product. They will be required to give the product away free of charge to the people who have agreed to test it. Secondary research differs from primary research because it involves a company using research that has been conducted by someone else. For example, an organisation may use findings through a relevant journal, website or newspaper article. The benefits and drawbacks or secondary research are entirely the opposite of primary research. Secondary research is cheaper for the company as it generally does not entail excess costs and it is nowhere near as time consuming. However, the reliability and relevance of the information acquired through secondary research is questionable. Seeing as you are using research that has conducted by an external source, you cannot always be sure it is entirely accurate or specific to what you need to know.

2.2. How do you classify the secondary data? Explain with examples.

Secondary data
Secondary data is data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records and data collected through qualitative methodologies or qualitative research. Primary data, by contrast, are collected by the investigator conducting the research. Secondary data analysis saves time that would otherwise be spent collecting data and, particularly in the case of quantitative data, provides larger and higher-quality databases than would be unfeasible for any individual researcher to collect on their own. In addition to that, analysts of social and economic change consider secondary data essential, since it is impossible to conduct a new survey that can adequately capture past change and/or developments.

Sources of secondary data

As is the case in primary research, secondary data can be obtained from two different research strands:

Quantitative: Census, housing, social security as well as electoral statistics and other related databases. Qualitative: Semi-structured and structured interviews, focus groups transcripts, field notes, observation records and other personal, research-related documents.

A clear benefit of using secondary data is that much of the background work needed has been already been carried out, for example: literature reviews, case studies might have been carried out, published texts and statistic could have been already used elsewhere, media promotion and personal contacts have also been utilized. This wealth of background work means that secondary data generally have a pre-established degree of validity and reliability which need not be re-examined by the researcher who is re-using such data. Furthermore, secondary data can also be helpful in the research design of subsequent primary research and can provide a baseline with which the collected primary data results can be compared to. Therefore, it is always wise to begin any research activity with a review of the secondar

2.3. Explain the main purpose of researchers using secondary data. What are the advantages and disadvantages of using secondary data for management research? Elaborate your answer with suitable examples.

Secondary data is information gathered for purposes other than the completion of a research project. A variety of secondary information sources is available to the researcher gathering data on an industry, potential product applications and the market place. Secondary data is also used to gain initial insight into the research problem. Secondary data is classified in terms of its source either internal or external. Internal, or in-house data, is secondary information acquired within the organization where research is being carried out. External secondary data is obtained from outside sources.

The two major advantages of using secondary data in market research are time and cost savings.

The secondary research process can be completed rapidly generally in 2 to 3 week. Substantial useful secondary data can be collected in a matter of days by a skillful analyst. When secondary data is available, the researcher need only locate the source of the data and extract the required information. Secondary research is generally less expensive than primary research. The bulk of secondary research data gathering does not require the use of expensive, specialized, highly trained personnel. Secondary research expenses are incurred by the originator of the information.

There are also a number of disadvantages of using secondary data. These include:

Secondary information pertinent to the research topic is either not available, or is only available in insufficient quantities. Some secondary data may be of questionable accuracy and reliability. Even government publications and trade magazines statistics can be misleading. For example, many trade magazines survey their members to derive estimates of market size, market growth rate and purchasing patterns, then average out these results. Often these statistics are merely average opinions based on less than 10% of their members. Data may be in a different format or units than is required by the researcher. Much secondary data is several years old and may not reflect the current market conditions. Trade journals and other publications often accept articles six months before appear in print. The research may have been done months or even years earlier.

As a general rule, a thorough research of the secondary data should be undertaken prior to conducting primary research. The secondary information will provide a useful background and will identify key questions and issues that will need to be addressed by the primary research. Internal data sources Internal secondary data is usually an inexpensive information source for the company conducting research, and is the place to start for existing operations. Internally generated sales and pricing data can be used as a research source. The use of this data is to define the competitive position of the firm, an evaluation of a marketing strategy the firm has used in the past, or gaining a better understanding of the companys best customers. There are three main sources of internal data. These are: 1. Sales and marketing reports. These can include such things as:

Type of product/service purchased Type of end-user/industry segment Method of payment Product or product line Sales territory Salesperson Date of purchase Amount of purchase Price Application by product Location of end-user

2. Accounting and financial records. These are often an overlooked source of internal secondary information and can be invaluable in the identification, clarification and prediction of certain problems. Accounting records can be used to evaluate the success of various marketing strategies such as revenues from a direct marketing campaign. There are several problems in using accounting and financial data. One is the timeliness factor it is often several months before accounting statements are available. Another is the structure of the records themselves. Most firms do not adequately setup their accounts to provide the types of answers to research questions that they need. For example, the account systems should capture project/product costs in order to identify the companys most profitable (and least profitable) activities. Companies should also consider establishing performance indicators based on financial data. These can be industry standards or unique ones designed to measure key performance factors that will enable the firm to monitor its performance over a period of time and compare it to its competitors. Some example may be sales per employee, sales per square foot, expenses per employee (salesperson, etc.). 3. Miscellaneous reports. These can include such things as inventory reports, service calls, number (qualifications and compensation) of staff, production and R&D reports. Also the companys business plan and customer calls (complaints) log can be useful sources of information. External data sources There is a wealth of statistical and research data available today. Some sources are:

Federal government Provincial/state governments Statistics agencies Trade associations General business publications

Magazine and newspaper articles Annual reports Academic publications Library sources Computerized bibliographies Syndicated services.

A good place to start your search is the local city, college or university library. Most reference librarians are very knowledgeable about what data is available, or where to look to find it. Also contact government libraries and departments for research reports/publications they may have done.

Advantages and Disadvantages of Using Secondary Analysis

Advantages

Considerably cheaper and faster than doing original studies You can benefit from the research from some of the top scholars in your field, which for the most part ensures quality data. If you have limited funds and time, other surveys may have the advantage of samples drawn from larger populations. How much you use previously collected data is flexible; you might only extract a few figures from a table, you might use the data in a subsidiary role in your research, or even in a central role. A network of data archives in which survey data files are collected and distributed is readily available, making research for secondary analysis easily accessible.

Disadvantages

Since many surveys deal with national populations, if you are interested in studying a well-defined minority subgroup you will have a difficult time finding relevant data. Secondary analysis can be used in irresponsible ways. If variables aren't exactly those you want, data can be manipulated and transformed in a way that might lessen the validity of the original research. Much research, particularly of large samples, can involve large data files and difficult statistical packages.

Introduction
Secondary research can be described as the most widely used method for data

collection. This process involves accessing information that is already gathered from either the originator or a distributor of primary research. Secondary research includes collecting information from third-party sources such as company websites, sales and accounting records, magazine articles and marketing research reports. It also includes any previously gathered information used by the marketer from any internal or external source.

Advantages:
Ease of Access There are many advantages to using secondary research. This includes the relative ease of access to many sources of secondary data. In the past secondary data accumulation required marketers to visit libraries, or wait for reports to be shipped by mail. Now with the availability of online access, secondary research is more openly accessed. This offers convenience and generally standardized usage methods for all sources of secondary research. Low Cost to Acquire The use of secondary data has allowed researchers access to valuable information for little or no cost to acquire. Therefore, this information is much less expensive then if the researchers had to carry out the research themselves. Clarification of Research Question The use of secondary research may help the researcher to clarify the research question. Secondary research is often used prior to primary research to help clarify the research focus. May Answer Research Question The use of secondary data collection is often used to help align the focus of large scale primary research. When focusing on secondary research, the researcher may realize that the exact information they were looking to uncover is already available through secondary sources. This would effectively eliminate the need and expense to carry out there own primary research. May Show Difficulties in Conducting Primary Research In many cases, the originators of secondary research include details of how the information was collected. This may include information detailing the procedures used in data collection and difficulties encountered in conducting the primary research. Therefore, the detailed difficulties may persuade the researcher to decide that the potential information obtained is not worth the potential difficulties in conducting the research.

Disadvantages:

Quality of Research There are some disadvantages to using secondary research. The originators of the primary research are largely self-governed and controlled by the marketer. Therefore, the secondary research used must be scrutinized closely since the origins of the information may be questionable. Moreover, the researcher needs to take sufficient steps to critically evaluate the validity and reliability of the information provided. Not Specific to Researchers Needs In many cases, secondary data is not presented in a form that exactly meets the researchers needs. Therefore, the researcher needs to rely on secondary data that is presented and classified in a way that is similar to their needs. Incomplete Information In many cases, researchers find information that appears valuable and promising. The researcher may not get the full version of the research to gain the full value of the study. This is because many research suppliers offer free portions of their research and then charge expensive fees for their full reports. Not Timely When using secondary research, one must exercise caution when using dated information from the past. With companies competing in fast changing industries, an out-of-date research reports many have little or no relevance to the current market situation.

Conclusion
In conclusion, the use of secondary research offers many significant advantages to the researcher. It is important for the researcher to identify, reduce, and manage the disadvantages that are accompanied by the use of secondary research.