In a short essay, list and describe the four forms of general business sources that are categorized as external secondary data
What will be an ideal response?
a. Guides - standard or recurring information is summarized in guides. Guides provide a path to other sources of secondary data contained in directories or published by professional or trade associations. Because guides can open the door to other sources of data, they are one of the first sources a researcher should consult.
b. Indexes and bibliographies - bibliographies, which are organized alphabetically by topic, are another good place to start external secondary research. Current or historic discussion of a particular topic of interest will be indexed in these references, leading the researcher to a number of authors. Several indexes are available for referencing both academic and business topics.
c. Directories - directories provide brief descriptions of companies, organizations, or individuals. They are helpful for identifying manufacturers operating in a specific market, for compiling names and addresses of associations in a sales territory, or for verifying names and addresses of prospective customers who carry a specific job title.
d. Nongovernmental statistical data - business research often involves compilation of statistical data reflecting market or industry factors. A historic perspective of industry participation and growth rates can provide a context for market share analysis. Market statistics related to population demographics, purchasing levels, television viewership, and product usage are just some of the types of governmental statistics available from secondary sources.