The reason use secondary data to start a research. Introduction : While conducting a market research there are two types of data that needs to be collected namely, the primary data collection and the secondary data collection. Primary data is the original data, which the company collects for its own use and to gather data on specific information. Secondary data is the data already collected by a third party, which the company uses for its purposes.

Question

The research process is a well-structured methodology that aids the manager to make an educated business decision. The most important element of this process is the source of data used. The better the data, the better the result. Data must come from a sample that is random and large enough. What are the six stages in a research process? Which stage is the most difficult to complete? Why? Which stage is the most important? Why? How important is it to have accurate data? Justify answers using examples and reasoning.

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Question

Chapter 9, Problem 12CT

Summary Introduction

To Determine:

The reason use secondary data to start a research.

Introduction:

While conducting a market research there are two types of data that needs to be collected namely, the primary data collection and the secondary data collection. Primary data is the original data, which the company collects for its own use and to gather data on specific information.

Secondary data is the data already collected by a third party, which the company uses for its purposes.

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The research process is a well-structured methodology that aids the manager to make an educated business decision. The most important element of this process is the source of data used. The better the data, the better the result. Data must come from a sample that is random and large enough. What are the six stages in a research process? Which stage is the most difficult to complete? Why? Which stage is the most important? Why? How important is it to have accurate data? Justify answers using examples and reasoning.

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