Secondary market research sources
Books, newspapers and trade magazines
Books, newspapers and trade magazines are secondary sources: the information already exists and was gathered by someone else. Books usually give general background information, newspapers report news, and trade magazines report news and developments in one industry, written for the people who work in it. Many are now available online as well as in print, so you can read them in a library, buy them, or find them on a publication's website.
What each source is useful for
| Source | What it provides | Example use |
|---|---|---|
| Book | General information on a topic | A book about starting a small catering business gives broad advice on food hygiene and pricing. |
| Newspaper | News | A local newspaper reports that a new housing estate is being built, so more customers may move nearby. |
| Trade magazine | News and developments in one industry | A pet-care trade magazine explains a rise in mobile grooming, helping a groomer keep up with the market. |
Advantages
These sources are usually easy and inexpensive to access. You can read them in a library, on a news website or in a reasonably priced magazine, so gathering information rarely needs a big budget. They can also show current trends and styles, especially newspapers and trade magazines, because they are published regularly. For example, a trade magazine may show that customers are asking for eco-friendly packaging, which helps an enterprise decide what to offer next.
Disadvantages
The information may be incorrect or biased, depending on the author or publication. A newspaper might favour one side of a local argument, and a trade magazine may be influenced by the companies that advertise in it. The information may also not suit the enterprise's exact needs: a general book on shop design may not answer whether a particular town needs a new board-game café.
Practise this
Cambridge National Enterprise & Marketing · 2.3 Secondary market research sources