Question: Mulan, the marketing manager at TechPro, a mid - sized software company, is tasked with expanding their customer base. She's considering two approaches: conducting primary

Mulan, the marketing manager at TechPro, a mid-sized software company, is tasked with expanding their customer base. She's considering two approaches: conducting primary research through customer surveys and focus groups, or purchasing secondary research reports from a reputable market research firm.
Mulan's colleague, Jing Jing, argues that primary research will provide more specific insights about their target audience. However, Farah from finance points out that secondary research would be more cost-effective and time-efficient. As TechPro prepares to launch a new project management tool, Mulan must decide which research method will best inform their market expansion strategy. She weighs the pros and cons of each approach, considering factors like budget, timeline, and the depth of insights needed.
How would you advise Mulan regarding these 2 questions:
What are the potential advantages and disadvantages of conducting primary research versus using secondary research for TechPro's market expansion goals?
How might the choice between primary and secondary research impact TechPro's ability to identify and target new market segments for their project management tool?

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