Secondary Market Research

What is secondary market research also known as?

• Experimental research

• Field research

• Desk research

• Primary research

Which of the following is NOT a method of secondary market research?

• Government reports

• Market reports

• Surveys

• Internet research

What is a major advantage of using internet research for secondary market research?

• Always accurate

• Free of charge

• Requires special training

• Limited information

What is a potential downside of relying on internet research for secondary market research?

• Too time-consuming

• Not accessible

• Too specific

• Misinformation or fake news

What type of information can market reports provide?

• Trends and consumer behavior in a specific industry

• Only historical data

• Personal opinions

• Only financial data

Why should businesses be cautious when using market reports for decision making?

• They only include government data

• They can contain bias or mistakes

• They are too general

• They are always outdated

What is a characteristic of government reports used in secondary market research?

• Always biased

• Generalized and representative of the whole population

• Industry-specific

• Only available to large businesses

What is an advantage of using internal sources for secondary market research?

• Always up to date

• Provides a global perspective

• Exclusive data specific to the business

• Provides information on the market as a whole

What is a disadvantage of secondary market research compared to primary market research?

• More expensive

• Less accurate

• Not specific to the business

• Always requires external consultants

What should businesses consider about the age of the research in secondary market research?

• Age of research does not matter

• Older research is more reliable

• Information can quickly become out of date

• Only research older than 5 years is useful