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Why the results of secondary market research might not always useful to a business?
Wiki User
∙ 11y ago
It can sometimes not be 100 percent true , it can be biased or exaggerated which is not the type of information that would be useful or reliable to businesses.
Wiki User
∙ 11y ago
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Scope and objectives of business research?
Business research is almost always applied research. This means that it is problem-oriented with the objective of obtaining information to help solve a specific business problem or make a decision.Business research tends to have a time limit. It makes little sense to gather information about a decision that was made three weeks ago or to get information next week that we need today. Information is highly perishable. It gets old and useless very quickly. Like fish, if you don't consume it when fresh, it loses a lot of its flavor-and starts to smell bad!Business research is done in an environment in which conditions change rapidly. The answers to research questions asked today may very well differ from the answers to the same questions obtained yesterday. In those areas where the manager needs to "stay in tune" with the changing landscape, the same research questions might need to be asked repeatedly. Successful organizations develop a culture where constant research is an integral part of their operation.
What is the advantages of secondary market research?
· Secondary data is the most easily accessible data and saves the researcher the trouble of going through the tiresome process of collecting data personally. · Secondary data is readily available at cheap rates and is usually quite inexpensive. · Collecting secondary data and analysing it saves time and effort. · Secondary data is unobtrusive. It is easily available and the researcher can get it without much struggle. · Secondary data avoids data collection problems and it provides a basis for comparison. · It can be less expensive than gathering the data all over again. · This data type may allow the researcher to cover a wider geographic or temporal range. · Secondary data can allow for larger scale studies on a small budget. · Secondary data provides an opportunity for longitudinal analysis based on the previous waves of survey. · Secondary data is a good indicator for analyzing the social change overtime. · This type of data also provides an opportunity for cross-cultural analysis with fewer limits of time, cost and language. · Collecting secondary data leaves more time for making in depth data analysis. · Re-analysis of the same secondary data may offer different insights regarding the analysis by focusing on one variable or subgroup. · With secondary data the researchers might be able to test hypotheses they had not thought of, or examine the strengths of their arguments. · Secondary data may be available which is entirely appropriate and wholly adequate to draw conclusions and answer the question or solve the problem. Sometimes primary data collection simply is not necessary. · It is far cheaper to collect secondary data than to obtain primary data. For the same level of research budget a thorough examination of secondary sources can yield a great deal more information than can be had through a primary data collection exercise. · When the researcher has collected the secondary data, there is no need to repeat the field work necessary for the collection of data. · The time involved in searching secondary sources is much less than that needed to complete primary data collection. · Secondary sources of information can yield more accurate data than that obtained through primary research. This is not always true but where a government or international agency has undertaken a large scale survey, or even a census, this is likely to yield far more accurate results than custom designed and executed surveys when these are based on relatively small sample sizes. · It should not be forgotten that secondary data can play a substantial role in the exploratory phase of the research when the task at hand is to define the research problem and to generate hypotheses. The assembly and analysis of secondary data almost invariably improves the researcher's understanding of the marketing problem, the various lines of inquiry that could or should be followed and the alternative courses of action which might be pursued. · Often the secondary data provides valuable background for the research - for example, it enables users to judge whether a small sample they have gathered is typical of the national population. · Government survey organizations have considerable expertise and relatively massive resources, including the power to compel participation (e.g. in census-taking), so samples are more likely to be of large size and truly representative of the population. · Secondary sources help define the population. Secondary data can be extremely useful both in defining the population and in structuring the sample to be taken. For instance, government statistics on a country's agriculture will help decide how to stratify a sample and, once sample estimates have been calculated, these can be used to project those estimates to the population.
What is the multi-level marketing in davao city?
Whether here or the Philippines, multi-level marketing is always a scam. Multi-level marketing is a legitimate business opportunity through the appropriate companies. While scams do exist, as in any business, many MLM companies are registered with the BBB. As with any business venture, one should research the company and market before deciding on a company and/or product.
When should market research be conducted?
You always want to do the market research before you roll out a new campaign. The research is meant to make sure that you are indeed going down the right path with your future efforts.
Why in business greeting is always good morning?
it opens new opportunity
Why do scientists need governmental funding?
(a) The scientists involved might not have tried to make a business case for their research to secure funding from business, inspite of its potential commercial or industrial value. (b) Although the outcomes of the research might have value to business it might be too expensive or risky to be of interest to business. (c) There might be political reasons for supporting the research. (d) There might be no business value for the results of the research, or that business value might be unclear. (e) Similar to (c), there is student demand for studies in many university faculties, and public interest in their results, in spite of the absence of any commercial or practical value for them.
Why would anyone want to look at a secondary source if a primar exists?
For confirmation ! It's always best when doing research - to have a secondary source of information that confirms your primary source as correct !
What are the advantages of primary and secondary sources over tertiary sources?
One advantage of secondary industries is that they almost always have access to the materials they need at reasonable costs from primary industries. Another advantage is not having to compete with larger, primary industries.
What is research always?
research is always informative.
What type of info is neede to estimate the demand and what type of primary and secondary sources of marketing info will be needed?
Primary and secondary sources to estimate the demand will always predominantly depends on your kind of business you do. Yes, its truly based on your business. The quality of the product plays an important role. The region you are targeting. People you would love to attend. Sales per day/ week/ month / year would give us the results. All these would give you the edge to proceed further.
Where can one find the best business opportunity online?
Research for business opportunities. There are good companies and there are plenty of scams. Trial and error is about the only way to do it. Always read reviews.
PT HAS COBRa and her husbands ins which is primary?
A cobra policy is always secondary. A cobra policy is always secondary.
Nature of Research?
Business Research is a systematic and objective process of gathering,recording and analyzing data for aid in making business decisions... In general, business research refers to any type of researching done when starting or running any kind of business. For example, starting any type of business requires research into the target customer and the competition to create a business plan.
Foreign business more complex than purely domestic?
Foreign trade is more complex than domestic as in addition to the considerations and resources needed for the domestic market a business also has to take into consideration cultural, language, monetary and legislative variances. Before considering entering into a foreign market a PEST or PESTLE report would normally be commissioned. PEST is an acronym for Political, Economic, Social and Technical and considers all aspects of the macro market i.e. the big picture. In addition, a business would need to consider the market itself in terms of size, accessibility, competitors, potential etc. If the market still looks attractive then a business would need to consider if it has sufficient resources to enter the target market. This is done by commissioning a micro analysis which is in essence an internal audit of a business's resources and capabilities. SWOT analysis is one of a number of tools used to do this. Secondary research will provide many of the answers but in my experience it is always necessary to carry out some primary research i.e. field research to validate the secondary research and to ask qualitative questions unanswered by other market research sources.
Where can I research the rating of a bank before I open a business checking account?
It is always a good idea to do some research on a bank before you open an account with them. If you go to Bankrate.com you can browse through different bank ratings.
Dr Maxwell performed several experiments which seem to indicate that eating chocolate is always bad for your health How should other scientists respond to Dr Maxwell's research?
They should try to reproduce Dr. Maxwell's research to verify his results.
Manipulation is always a part of research?
Experimental research
