ENTREPRENEURSHIP

Detailed explanation-1: -To sum up, primary research is a great option for individuals and organisations who need original data to meet a specific need or to answer a particular question. It may be more costly and time-consuming than using secondary data, but in many instances the benefits outweigh the associated costs.

Detailed explanation-2: -Primary research is often more expensive than secondary research because it requires more time and resources to collect the data. Secondary research is a more cost-effective option because it relies on existing data sources. The accuracy of the data is also an important consideration.

Detailed explanation-3: -Retrospective studies are generally less expensive and take less time than prospective studies, but are more prone to measurement error.

Detailed explanation-4: -Secondary research is usually faster, easier and less expensive than primary research.