What Is Internal Sources Of Information For Market Research?

3 Answers

amber Jhon Profile
amber Jhon answered
When a market research is conducted then there are two sources of information which include internal and external sources. I think the internal sources of information give the most solid proofs as compare to the external sources of information. The internal sources of information include the people or the employees working in an organization, who is the part of the marketing research, newsletters of the companies, financial statements and management analysis reports etc. Just take an example for more clarification. If you are conducting a marketing research on, "impact of shelf positioning of FMCGs on impulse buying in a store". You can get the internal information from the sources including workers of the stores, distributors of a particular store, their databases etc.
Alex hales Perry Profile
Alex hales Perry , I am Market Research Analyst, answered

These refer to the sources of information within the organisation. In certain cases internal sources are indispensable without which the researcher cannot obtain desired results. Internal sources include accounting information (Trading Profit & Loss A/c and Balance Sheets of different years), salesmen’s reports, statistics in relation to advertisement expenditure, transportation costs etc. Information from internal sources is easily available and no financial burden is involved in gathering the information.

Brand Essence Profile
Brand Essence , We are into market research & consulting. Our expertise is into creating market research reports for multiple industries. Follow us for late, answered

Internal
sources are those types of secondary market research sources that previously
occur and are collected in the business’s database or file system. Internal
sources include data that has already been gathered by the company and proves
beneficial for future projects, etc. For most businesses, internal sources may
prove sufficient to develop new products and services, and this may not need
them to look outside.

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