BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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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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Detailed explanation-1: -The limitation to primary data is the expense and time is spent on gathering data, whereas secondary information may be inaccurate or irrelevant. Due to the obvious procedures associated with carrying out primary research, primary data involve much costs and requires time.
Detailed explanation-2: -One of the advantages of primary data is that it can be collected from any population, making it ideal for studies with diverse populations. However, one disadvantage of primary data is that it can be time consuming and expensive to collect.
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: -Examples of primary research are: Interviews (telephone or face-to-face) Surveys (online or mail) Questionnaires (online or mail)