L14 l BUSINESS RELATED INFORMATION I Primary and secondary research

Question 1

What are the 2 types of market research?

Answer 1

Primary and Secondary.

Question 2

What is primary research?

Answer 2

Primary research is original research, which has been conducted by the business (or individual) via interviews, questionnaires, surveys and/or observations.

Question 3

What is secondary research?

Answer 3

Secondary research is data that is already available, because it has previously been collected by another researcher. This data is available via government agencies, trade associations, market research companies or the business’s own research department, etc