Understanding Market Research Basics

What is primary data?

• Data collected from existing sources

• Data collected firsthand for a specific research purpose

• Data collected from government publications

• Data collected from online databases

Which of the following is a type of primary data?

• Survey responses

• Newspaper articles

• Academic journals

• Government reports

Which of the following is a source of secondary data?

• Interviews

• Focus groups

• Census data

• Experiments

Why is market research important for businesses?

• It helps in understanding competitors' strategies

• It ensures product quality

• It guarantees increased sales

• It eliminates all business risks

Which of the following is NOT a type of primary data?

• Observations

• Surveys

• Experiments

• Magazine articles

What is a common source of secondary data?

• Direct observations

• Online databases

• Personal interviews

• Field experiments

How can primary data be collected?

• By reviewing literature

• By conducting surveys

• By accessing online databases

• By reading newspapers

Which of the following is a benefit of using secondary data?

• It is always up-to-date

• It is less expensive to obtain

• It is tailored to specific research needs

• It is always more accurate

What is a disadvantage of primary data?

• It is less specific

• It is more expensive to collect

• It is less reliable

• It is outdated

Which of the following is an example of primary data collection?

• Reading a book

• Conducting an experiment

• Accessing a government report

• Searching online articles