Primary Research versus Secondary Research
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Under what conditions primary research should be used? When should secondary research be used?
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Solution Summary
Primary and secondary researches are explored. Conditions under which each of them is applicable are described.
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Entrepreneurs do secondary research first and then conduct primary research. For example, the owner of a video-rental shop would want to know all about a neighborhood before opening a new store there. Using information gleaned from secondary sources, the owner can learn all kinds of demographic data, including detailed income data and spending patterns.
They can then send out a questionnaire to a sampling of households to find out what kinds of movies people like to rent. That primary-research technique will help when it comes time to stock the store with the latest Hollywood releases.
Secondary research lays the groundwork and primary research helps fill in the gaps. By using both types of market research, business owners ...
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