Mini Task 2 copy.doc - ARNAB SAHA 28646223 MKF 2121 MINI TASK 2 1 Why it is important to obtain secondary data before primary data How do we distinguish

Mini Task 2 copy.doc - ARNAB SAHA 28646223 MKF 2121 MINI...

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ARNAB SAHA - 28646223 MKF 2121 MINI TASK 2 1. Why it is important to obtain secondary data before primary data? How do we distinguish secondary data from primary data? Because there is information out there that people already put time and effort in to find the data that you don't have to spend on it. The information is either free or cheap. Primary data is a real-time data whereas secondary data is one which relates to the past. Primary data is collected for addressing the problem at hand while secondary data is collected for purposes other than the problem at hand. Primary data collection is a very involved process. 2. BMW’s is considering raising the prices for its 3 series sedan in Australia by 10% and would like to understand how this might affect its revenue in Australia. A marketing analyst at their corporate head office finds a report published by Mercedes Benz—a rival luxury car maker—in 2012 on a similar price increase the company carried out in the US. The report finds that Mercedes’s American revenue increased by 5% after
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