DeskResearch is one of market study methods. Data is collected from open sources of information, that is why this method is inexpensive and prompt.
Desk Research can be used as the only method. However, it’s mostly effective at the preliminary stage of a market research since the obtained information can be validated and specified in the course of subsequent stages of the study.
However, one of disadvantages of this method is that information can be outdated.
There are two major types of Desk Research:
Internal Research is a starting point of a research process. Sources of information are sales data, price, key types of clients, etc. Major advantages are ease of access to information, speed of processing, low costs.
External Research is a research carried out outside of the company and with the usage of various external sources of information like printed media, Internet, analytical reports, published statistics.
Thus, this method enables obtaining information about the industry, market size and capacity dynamics, main competitors and target groups, existing niches for specific product groups.