CDz 4U wants to build a new store in your community but needs to research the opportunity.Which of the following is likely to represent the most cost-effective way to gather the needed data?
A)beginning by collecting secondary data to narrow the list of possible locations and then using the results to focus primary research efforts on a limited number of possible locations
B)relying exclusively on primary data collection because it can be customized to ensure relevance
C)relying exclusively on secondary data, because it is less expensive and quicker to obtain, thus allowing the firm to free up both time and financial resources for the design and development of the actual store
D)beginning by collecting primary data-the reason its called "primary" is because it should be collected first; then, once the primary data is collected, use secondary sources to refine and verify the results

Question

Quizplus · Accepted Answer

Collecting secondary data can narrow down the list of possible locations, and then primary research can be focused on a limited number of locations, which will be cost-effective as it saves both time and money. This approach is called a "triangulation" approach, where secondary data is used to confirm primary data.

CDz 4U Wants to Build a New Store in Your