What are the secondary sources of data and how do these sources differ from primary sources? Give examples of sources from which secondary data can be obtained

What will be an ideal response?

A low-cost approach to market research and data collection begins with desk research. There are a lot of secondary sources which are a good place to start. Data from census bureaus; government and private agencies; trade associations; chamber of commerce; published reports; academic institutions; and public libraries are not only extensive but can provide valuable information in a very cost-effective manner. All of these are considered as secondary sources since the data already exist and is not based on the research conducted by the company. Data obtained by conducting research by the company is considered as a primary source. This may also include the company's unpublished reports and other financial data. Other secondary sources include the U.S. Government's National Trade Data Base (NTDB), an online resource from the Department of Commerce. Similarly, there are other data which are published by almost all of the federal government agencies. Most countries compile data related to the gross national product (GNP), gross domestic product (GDP), consumption, investment, government expenditures, price levels, and import/export expenditures. Demographic data are available from the United Nations' agencies as well as other international agencies. The Statistical Yearbook of the United Nations contains global data on agriculture, mining, manufacturing, construction, energy production consumption, internal and external trade, health, housing, education and lots of other services. Similar data are collected by the U.S. Central intelligence Agency which publishes the World Fact book. Other sources are the World Bank and the International Monetary Fund. The Economist and Financial Times regularly compile comprehensive surveys of regional and country markets and include them in their publications. Data from many of these sources are generally available in both print and electronic forms. There are also different country Web sites which also provide some useful information. Syndicated studies published by private research companies are another source of secondary data and information.