market research

Question 1

define primary research

Answer 1

original data gathered by a researcher

Question 2

advantages of primary research

Answer 2

• up to date information
• tailored to meet business needs
• reliable

Question 3

disadvantages of primary research

Answer 3

• time-consuming
• expensive to conduct
• low response rates can distort findings
• not a representative findings

Question 4

define secondary research

Answer 4

research that already exists, conducted by another organisation

Question 5

advantages of secondary research

Answer 5

• easily accessible and a good starting point
• less time consuming
• better to collect quantitative data

Question 6

disadvantages of secondary research

Answer 6

-detailed reports can be expensive
- not always up to date
- not tailored to business needs

Question 7

social media

Answer 7

• both primary and secondary
• easy to set up surveys and analyse results in real-time
• quick and easy