Market Research

Question 1

Advantages of Primary Research.

Answer 1

-Specific to the business
-Relevant and up to date
-Specific to the business

Question 2

Disadvantages of Primary Research.

Answer 2

-Time Consuming
-Expensive
-Difficult to collect

Question 3

Advantages of Secondary Research

Answer 3

-Quick and Easy to gather
-Easy to analyse
-Industry specific information

Question 4

Disadvantages of Secondary Research

Answer 4

-Not specific to the business
-Could be Biased or Incorrect
-Could be outdated

Question 5

What is quantitative data?

Answer 5

-Numerical
-Can be displayed in a graph or chart

Question 6

What is qualitative data?

Answer 6

-Opinion based
-Descriptive
-Open-ended questions