Secondary Research Flashcards

1
Q

What is Secondary Research? (2)

A

Research that has already been completed and may not be relevant to the business.

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2
Q

What is the benefit of Secondary research? (6)

A
  1. Research that has been completed
  2. Therefore doesn’t need researchers
  3. And doesn’t need to complete focus groups etc
  4. Reduce Outflows on wages
  5. To improve the net cash flow
  6. Can increase assets and avoid debt.
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3
Q

What is the drawback of secondary research? (7)

A
  1. Research may not be time relevant.
  2. Business will make wrong decisions
  3. Leading to low sales due to not meeting needs
  4. Lower Inflows
  5. Negative Net Cash Flow
  6. Having to use Cash Reserves to pay expenses
  7. Struggle to pay day to day bills and struggle to pay for expansion.
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