The owner of a small furniture-manufacturing firm is considering conducting marketing research.He should consider examining secondary data before collecting primary data because secondary data offers a ___________ advantage over primary data.

Question

Quizplus · Accepted Answer

Secondary data is data that has already been collected and analyzed by someone else, which makes it cheaper than primary data (data collected for the first time). Primary data collection can be expensive because it often involves hiring researchers or conducting surveys, while secondary data is usually available for free or at a much lower cost. Therefore, the owner of the furniture-manufacturing firm should consider examining secondary data before investing in expensive primary data collection.

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