MANAGEMENT

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BUISENESS MANAGEMENT

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
One of the claimed advantages of secondary data is that:1) it is always 100% accurate as the firm undertakes its own data collection2) it is usually up-to-date3) it is often cheap as the research has been conducted by others4) it will not be available to rival businesses
A
1
B
2
C
3
D
4
Explanation: 

Detailed explanation-1: -A clear benefit of using secondary data is that much of the background work needed has already been carried out, such as literature reviews or case studies. The data may have been used in published texts and statistics elsewhere, and the data could already be promoted in the media or bring in useful personal contacts.

Detailed explanation-2: -Expert Answer Correct option is (C) It saves time in data collection. Secondary data means that you are using the data that has already been collected by someone else for your own research.

Detailed explanation-3: -An advantage of using primary data is that researchers are collecting information for the specific purposes of their study. In essence, the questions the researchers ask are tailored to elicit the data that will help them with their study.

Detailed explanation-4: -What is secondary data? data that has already been published. unreliable data.

There is 1 question to complete.
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