ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a major disadvantage associated with the collection of primary data in the course of marketing research?
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it provides the most recent data possible
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it is typically expensive
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it allows for secrecy from competitors
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it fits the firm’s marketing needs well
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data collection is rapid
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Explanation:
Detailed explanation-1: -Disadvantages of primary research The main disadvantage of conducting primary research is the cost involved in the process. Secondary research can often be collected without cost, whilst primary research is more involved, increasing the cost of obtaining it.
Detailed explanation-2: -Possible Primary Sources Disadvantages: Some primary sources, such as eyewitness accounts, may be too close to the subject, lacking a critical distance. Others, such as interviews, surveys, and experiments, are time consuming to prepare, administer, and analyze.
Detailed explanation-3: -Primary research usually costs more and often takes longer to conduct than secondary research, but it gives conclusive results.
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