Data Gathered Through Secondary Marketing Research Is Different from Data

question 86

Multiple Choice

Data gathered through secondary marketing research is different from data gathered through primary marketing research in that secondary data:

• A) are for a specific purpose or for a specific project.
• B) tend to be more expensive.
• C) are customized to meet a company's needs.
• D) are fresh, new data.
• E) are available to competitors.

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Definitions:

Customer Needs

The wants and preferences that consumers have regarding a product or service that drive their buying behavior.

Market Share

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.

Wants and Needs

Essential drivers of consumer behavior; needs are basic requirements for survival, while wants are desires for specific satisfiers of these needs.

Cost-effective

A term describing a process, action, or method that achieves its intended outcomes without excessive expenditure, providing the best possible return on investment.