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.
2
Q
What is the benefit of Secondary research? (6)
A
- Research that has been completed
- Therefore doesn’t need researchers
- And doesn’t need to complete focus groups etc
- Reduce Outflows on wages
- To improve the net cash flow
- Can increase assets and avoid debt.
3
Q
What is the drawback of secondary research? (7)
A
- Research may not be time relevant.
- Business will make wrong decisions
- Leading to low sales due to not meeting needs
- Lower Inflows
- Negative Net Cash Flow
- Having to use Cash Reserves to pay expenses
- Struggle to pay day to day bills and struggle to pay for expansion.