GENERAL KNOWLEDGE

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GK

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Researchers usually start their investigation by examining some of the rich variety of low-cost and readily available ____ data, then collect ____ data if the needed data don’t exist or are dated, inaccurate, incomplete or unreliable.
A
primary; secondary
B
secondary; primary
C
primary; econometric
D
secondary; econometric
E
exploratory; econometric
Explanation: 

Detailed explanation-1: -Primary data, also sometimes referred to as raw data, is information collected specifically for the purpose of the research at hand. It is first-hand data collected by the researcher, rather than through another person or source.

Detailed explanation-2: -Secondary data is less expensive to collect than primary data. Prescriptive knowledge describes changing trends-say, changing customer likes or dislikes; or economic surges and declines.

Detailed explanation-3: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.

Detailed explanation-4: -Qualitative research techniques are relatively unstructured measurement approaches to permit a range of possible responses, and they are a creative means of ascertaining consumer perceptions that may otherwise be difficult to uncover.

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