Technoprenuership1 22 research.
Secondary data is data that already exists which can be collected by desk research.
6. Collect data 7. Analyze existing and new data New and existing data is usually raw information which needs collating and turning into intelligent information i.e. data which has been interpreted and summarized.
8. Evaluate and review strategy in the light of information gained through research This is the stage at which decisions relating to the objectives of the research can be made. It may involve a rethink about the customer segment under investigation. Does the information support the targeting
of the selected segment and, if so, how can this be best pursued. Should the firm’s resources be concentrated on a different segment, in which case which one, and what research now needs to be undertaken.
Secondary data Research invariably starts with secondary information. Small firms most commonly use secondary data sources because it is immediate and either free or low cost.
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