When to carry out desk research - 7 situations

Desk research, also known as secondary research, is the process of gathering information from existing sources such as published reports, academic papers, and online databases. Here are seven situations where desk research may be useful:

When developing a new product or service: Desk research can help identify market trends and customer needs, enabling businesses to develop products or services that are more likely to succeed.
When assessing market opportunities: Desk research can help identify potential markets, competitors, and customer segments, providing insights into market size, growth potential, and market saturation.
When conducting a feasibility study: Desk research can help identify the regulatory environment, infrastructure, and economic conditions in a target market, providing insights into the viability of a project.
When conducting a competitor analysis: Desk research can help identify competitor strengths and weaknesses, enabling businesses to develop effective strategies to gain market share.
When conducting a customer analysis: Desk research can help identify customer preferences, demographics, and behavior, providing insights into how to target and engage customers effectively.
When preparing for a sales pitch or proposal: Desk research can help gather information on a prospect’s business, industry, and challenges, providing insights into how to position a product or service effectively.
When conducting a risk assessment: Desk research can help identify potential risks, such as political instability or economic uncertainty, providing insights into how to manage and mitigate these risks.

In conclusion, desk research can be useful in many situations, enabling businesses to gather insights and make informed decisions. By leveraging existing sources of information, businesses can save time and resources while improving their understanding of markets, competitors, and customers.

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