Please provide a discussion response: Marketing researches have two types of dat

Question

Please provide a discussion response:

Marketing researches have two types of data which are primary data and secondary data. Primary data are observed and recorded or collected directly from respondents is basically data that you collect yourself. You can get this data by doing interviews,questionnaires,observation and physical testing.Primary data has a few advantages like it addresses specific research issues so it focuses just on specific subjects and it gives the researcher control of the whole project.Secondary data are compiled both inside and outside the organization for any purpose other than current investigation is basically internal information that already exists somewhere. Secondary data include general reports supplied to an enterprise by various data services and internal and online databases. Secondary data also have a few advantages which are that is cheaper, it saves you a lot of time and it helps primary data collection make more sense and due to the opportunity to obtain data via the internet, more than half of all marketing researchers now comes from secondary sources

Explanation / Answer

The market researchers rely on two types of data to conduct the research work. The first one called primary data is obtained directly from respeondent subjects through in person interactions like interview, recording of responses in a questionnaire and surveys. The second type of data is obtained from resources that already exist in form of literature, records, databases, data services etc. The primary data is the first hand account of the situation, directly from the respondent, hence is more authentic and in control of the surveyor, whereas the secondary data has the advantage of quick and cheap access to information. In practice more researchers use secondary data.

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