A Major Advantage of Primary Data Collection Is

question 53

Multiple Choice

A major advantage of primary data collection is

• A)it can be easily accessed through syndicated databases.
• B)it offers behavioral insights generally not available from secondary research.
• C)it takes less time to collect than secondary data.
• D)it is general enough to meet many different researchers' needs.
• E)it is less expensive to collect than secondary data.

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Definitions:

Market-Product Grids

A strategic planning tool used to visualize and analyze relationships between different markets and products, facilitating decisions on where to focus marketing and product development efforts.

Positioning Studies

Research activities aimed at analyzing how a brand or product is perceived in the market relative to competitors, and identifying a strategy to occupy a distinctive place in the minds of consumers.

Marketing Mix Actions

Decisions and actions related to the four Ps (Product, Price, Place, Promotion) that a company takes to appeal to its target market.

Resource Allocation

The process of distributing available resources among various projects, tasks, or investments, according to strategic priorities and goals.