Some of the advantages of research using secondary

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Some of the advantages of research using secondary data are that it saves time and reduces data costs. The disadvantage is that it may not be precisely relevant to information needs. Information may not be as timely as needed. Sources may not be original, and therefore usefulness is an issue. Methodologies for collecting data may not be relevant or may contain bias in subject matter. The main advantage of primary data its the specificity to the immediate data needs and topic at hand; however, it can be costly and time-consuming to collect. It often requires more sophisticated training and experience to design and collect unbiased, valid, reliable data. AACSB: Analytic Blooms: Apply Difficulty: 2 Medium Learning Objective: 09-02 Summarize the differences between secondary data and primary data. Topic: Marketing Research Process Step 3--Data Collection Process 148. (p. 188) Define exploratory research and list two examples of exploratory research data collection techniques. Exploratory research attempts to begin to understand the phenomenon of interest; it also provides initial information when the problem lacks any clear definition. Exploration can include informal methods (like reviewing available secondary data) or more formal methods that encompass qualitative research. Types of exploratory research include observation, in-depth interviews, focus groups, and social media monitoring. AACSB: Analytic Blooms: Apply Difficulty: 2 Medium Learning Objective: 09-04 Describe the various primary data collection techniques. Topic: Marketing Research Process Step 3--Data Collection Process 149. (p. 200) When doing market research, it is important to uphold strong business ethics. What are the marketing research guidelines provided by the American Marketing Association? The American Marketing Association provides three guidelines for conducting marketing research: (1) It prohibits selling or fundraising under the guise of conducting research; (2) it supports maintaining research integrity by avoiding misrepresentation or the omission of pertinent research data; and (3) it encourages the fair treatment of clients and suppliers. AACSB: Ethics Blooms: Apply Difficulty: 2 Medium Learning Objective: 09-05 Examine the circumstances under which collecting information on consumers is ethical. Topic: The Ethics of Using Customer Information
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