ONLINE & SECONDARY RESEARCH

Online and Secondary Research in Market Research

Market research helps businesses understand consumer behavior, industry trends, and competitor strategies. Two key methods used are online research and secondary research.

1. Online Research in Market Research

Online research involves gathering primary data through digital means, such as surveys, social media analysis, and website analytics.

Process of Online Research

  1. Define Research Objectives – Identify key questions to answer (e.g., customer preferences, brand perception).
  2. Select Research Methods – Choose between surveys, online focus groups, social media listening, or website analytics.
  3. Data Collection– Gather responses via online tools (Google Forms, Typeform, SurveyMonkey) or analyze digital behavior.
  4. Data Analysis– Use software like Google Analytics, SPSS, or AI-driven tools to

interpret findings.

  • Report & Apply Insights– Compile data into actionable insights for business decisions.

Cost of Online Research

  • Surveys – Free (Google Forms) to ₹8,000–₹4,00,000+ (SurveyMonkey, Qualtrics, depending on sample size).
  • Social Media Listening– Free (basic monitoring) to ₹40,000–₹8,00,000+ per year (Brandwatch, Sprout Social).
  • Website Analytics – Free (Google Analytics basic) to ₹1.25 crore+ per year (Google Analytics 360).

2. Secondary Research in Market Research

Secondary research involves analyzing existing data from third-party sources, such as industry reports, government statistics, and academic studies.

Process of Secondary Research

  1. Identify Research Needs– Determine which topics require secondary data.
  2. Source Relevant Information– Use government databases (Census, Eurostat), industry reports (Statista, IBISWorld), and academic journals.
  3. Evaluate Data Reliability– Assess the credibility of sources for bias and accuracy.
  4. Analyze & Summarize Findings – Extract key insights and trends.
  5. Apply to Business Strategy – Integrate findings with primary research for a comprehensive view.

Cost of Secondary Research

Government Reports – Often free (Census data, RBI reports, NITI Aayog).

  • Industry Reports – ₹40,000–₹8,00,000+ (Gartner, IBISWorld.

Academic Studies– Free (Google Scholar, ResearchGate) or paid ₹1,600–₹8,000 per paper (Springer, Elsevier).

Conclusion

Both online and secondary research play crucial roles in market research. Online research provides real-time insights tailored to business needs, while secondary research offers cost-effective access to broader industry data. A combination of both methods ensures comprehensive decision-making for businesses.

Basic Process and costings of Online and Secondary Research

MEANING:

Definition:
Online research involves using the internet to gather information which includes searching for
data, articles, reports, and other resources available on the web.
Secondary research involves the analysis and interpretation of data that has already been
collected and published by others. It relies on existing research rather than collecting new data
directly.

Purpose:
Online research:
● To quickly gather information from a wide range of sources.
● To find both primary and secondary sources of data.
● To access recent and varied perspectives on a topic.
Secondary research:
● To build on existing knowledge and insights.
● To provide context or background for a new study or analysis.
● To understand trends, patterns, and conclusions drawn from previous research.

BASIC PROCESS:

● Define the research problem:
It involves determining what you need to find or study. This step includes finding reliable sources
to solve your problems or discover
data on something.

● Identify and Locate Secondary Sources:
It involves looking for books, academic journals, reports from reputable organizations or
government agencies, collecting information from various databases etc.
● Evaluate Secondary Sources:
Ensure the sources are directly related to your research question or topic. Review the methodology
and findings to ensure they are robust and reliable.
● Extract and Organize Information:
Identify and summarize the main findings and arguments from each source. Arrange information based
on themes or categories relevant to your research question.
● Synthesize Information:
Integrate findings from various sources to form a comprehensive view of the topic. Note any areas
where information is lacking or where further research might be needed.
● Report Findings:
Prepare a detailed report or paper summarizing the research, including key findings, insights, and
conclusions.
● Cite Your Sources:
Properly mention all the sources related to the context and information you have added.

COST FACTORS:

Publications and constitutional access:
Many government reports, white papers, and some academic articles are available for free online.
Some industry reports, market research reports, and specialized books can be expensive.

Purchase costs and consultancy fees:

Many documents and papers need to be bought for research.
Consultancy fees is needed to pay if you hire experts or firms to
conduct or interpret secondary research.

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