Business Studies Types of market researchPrimary ResearchPrimary data are that do not already exist. They have to be collected by a research. Collecting primary

... Business Studies Types of market research Primary Research Primary data are that do not already exist. They have to be collected by a research. Collecting primary data is sometimes referred to as field search. Some advantages of primary research are :- * specific to the firm * Up to date information * Can answer psychological questions However, there are also some disadvantages which are as follows:- * Usually very expensive * Risk of bias Secondary Research Secondary data are that already exist in some form, collecting secondary data is sometimes known as desk research. Some advantages of secondary research are :- * Relatively cheap since it already exist * Gives an overall view of the market * Often uses very large samples Some disadvantage of secondary research are:- * Data can be out of date * Not specific to user's needs Uses of market research and why companies do it market research gather information about consumers, competitors and distributor's within a firm's target market. It is

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