The owner of a small furniture-manufacturing firm is considering conducting market research.He should consider examining secondary data before collecting primary data because secondary data offer a(n)___________ advantage over primary data.

Question

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Secondary data are data that have already been collected and analyzed by someone else, such as government agencies, industry associations, or market research firms. Secondary data are often less expensive than primary data because they are readily available and do not require the researcher to go through the time and expense of collecting new data. Thus, examining secondary data first can provide a cost advantage over collecting primary data.

The Owner of a Small Furniture-Manufacturing Firm Is Considering Conducting