Clyde wants to open a new store in his neighborhood but needs to first collect relevant data.A cost-effective way to start his research is by:
A)relying exclusively on primary data collection because it can be customized to ensure relevance.
B)collecting secondary data to narrow the list of possible locations, then use the results to focus primary research efforts on a limited number of possible locations.
C)relying solely on secondary data, even if it is insufficient. This allows the firm to free up both time and financial resources for the design and development of the actual store.
D)collecting primary data. Then, once the primary data is collected, use secondary sources to refine and verify the results.

Question

Quizplus · Accepted Answer

Collecting secondary data to narrow down the list of possible locations is a cost-effective way to start research. This will allow Clyde to focus primary research efforts on a limited number of possible locations, saving time and resources. Once the list of possible locations is narrowed down, Clyde can then collect primary data, and use secondary sources to refine and verify the results.

Clyde Wants to Open a New Store in His Neighborhood