ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the main advantage of secondary research data over primary research data?
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It provides a much smaller sample, though with the same measure of depth.
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It focuses more on the target market.
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It is more easily accessible and more cost effective.
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It is generally more accurate than primary data.
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Explanation:
Detailed explanation-1: -One of the most noticeable advantages of using secondary data analysis is its cost effectiveness. Because someone else has already collected the data, the researcher does not need to invest any money, time, or effort into the data collection stages of his or her study.
Detailed explanation-2: -Secondary research is much more cost-effective than primary research, as it uses already existing data, unlike primary research, where data is collected firsthand by organizations or businesses or they can employ a third party to collect data on their behalf.
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