Secondary sources, discussed earlier in this chapter and in Chapter 7, offer a means of gathering information for the industry analysis section of the business plan. There are many other market research secondary sources that may be used to address the specific objectives of the project identified in step one. As mentioned, trade magazines, newspaper articles, libraries, government agencies, and the Internet can provide much information on the industry market and competitors. The Internet can even be used to gather informal primary data through chat groups.
The most important purpose of reviewing secondary sources is to obtain information that will assist the entrepreneur in making the best decisions regarding the marketing of a product or service. Improvements in information technology today make this a very effective source in gathering information customers, competitors, and market trends. Completion of this
Secondary sources, discussed earlier in this chapter and in Chapter 7, offer a means of gathering information for the industry analysis section of the business plan. There are many other market research secondary sources that may be used to address the specific objectives of the project identified in step one. As mentioned, trade magazines, newspaper articles, libraries, government agencies, and the Internet can provide much information on the industry market and competitors. The Internet can even be used to gather informal primary data through chat groups.
The most important purpose of reviewing secondary sources is to obtain information that will assist the entrepreneur in making the best decisions regarding the marketing of a product or service. Improvements in information technology today make this a very effective source in gathering information customers, competitors, and market trends. Completion of this
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