Question: What is the difference between primary and secondary data in marketing research? Group of answer choices Primary data is already collected while secondary data has

What is the difference between primary and secondary data in marketing research?

Group of answer choices

Primary data is already collected while secondary data has to be collected by the researcher.

Primary data refers to data collected directly from the source, such as through surveys or interviews. Secondary data refers to data that already exists, such as government reports, industry publications, or other research studies.

Primary Data is low cost in nature while secondary data is very expensive to obtain

Primary data does not give the first hand knowledge to the researcher.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

real all the page and answer the total summery and objective in this paper. Supply Chain Management of Super Shops in Perspective of Bangladesh Avizit Basaka & M. M. Israfil Shahin Seddiqe product...

07-Bickman-45636:07-Bickman-45636 7/28/2008 6:13 PM Page 214 CHAPTER 7 Designing a Qualitative Study Joseph A. Maxwell T raditionally, works on research design (most of which focus on quantitative...

What is the difference between primary and secondary research in market analysis? Group of answer choices Primary research involves collecting data from existing sources, while secondary research...

Which of the following statements is NOT true about marketing research? Group of answer choices The U . S . government collects data that can be useful to marketers. Primary research is more time...

Identify the first step of marketing research Group of answer choices Plan for primary data collection Secondary data Collecting data Identify and formulate the research problem Sampling procedures

are spread randomly (and, it is hoped, equally) between the treatment(s), which w neutralize self-selection. Self-selection occurs when participants can select themselv into either the experimental...

Which of the following is best description of the difference between primary vs . secondary data? Group of answer choices Primary data is already existing data; secondary data is collected by you....

1 About 70% of Coca Cola revenues and profits come from sales outside the US.Thereforeas the US currency loses value relative to the other main international currencies like the Japanese yen, euro,...

Answer: A. B. C. D. Which statement about historical transactions is false? O They typically include a combination of summary totals and individual transactions. O They record investment and asset...

Identify 3 potential sources of return to mutual fund investors and briefly discuss how each could affect total return to shareholders. Explain how the discount or premium of a closed-end fund can...

What is the minimum deposit for opening a National Savings Certificates ( NSC ) ? Question 1 Answer a . 5 0 0 b . 1 0 0 0 c . 1 5 0 0 d . 5 0 0 0

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...