Which is a method of primary research?

a questionnaire given to shoppers. It collects new information directly.

Which is an advantage of secondary research?

It is cheap and quick to obtain. The data already exists.

test marketing. A small-scale launch tests the reaction before a full one.

It shows whether customers want the product before money is spent on it. Decisions are based on evidence, not guesses.

It is expensive and takes time. Collecting new data costs money and time.

In plain words

Before spending a fortune on a new product, a business tries to find out whether anyone will buy it. Gathering that information is market research.

It can collect new information itself, or use what other people have already published.

Market research is the collecting and analysing of information about a market: its customers and its competitors.
Its purposes: to identify customer needs, to find gaps in the market, to reduce risk, and to inform decisions.
Primary research collects new, first-hand information: questionnaires and surveys, interviews, focus groups, observation, and test marketing (launching in one small area first).
It is up to date, specific to the business and not available to competitors, but it is expensive and slow.
Secondary research uses information that already exists: the internet, government statistics, published market reports, and the business's own sales records.
It is cheap and quick, but it may be out of date, not exactly what is needed, and available to competitors.

Primary is first-hand and new. Secondary is second-hand and already collected. The names tell you which is which.
A focus group is a small group of consumers who discuss a product together. It gives opinions and reasons, not numbers.

5 questions, about 2 minutes.

It lands in your notebook with its questions as flashcards.

These are the quiz’s questions. Do the quiz first, then come back here for the ones that got you.

5 questions

Tap an answer and you’ll see straight away whether it’s right, and why.

3 questions, 8 marks. Write your answers on paper, then check them.

Cambridge IGCSE Business Studies 0450 · 8 marks · papermunch.org

Name ______________________________ Date ______________

Explain the difference between primary and secondary market research.[2]
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Primary research collects new, first-hand data for a specific purpose. Secondary research uses data that has already been collected by someone else.
I got this one
Explain two advantages of primary research.[3]
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The information is up to date and collected for exactly the purpose the business needs. Competitors cannot see it, as the business gathered it itself.
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Explain one advantage and one disadvantage of using government statistics for market research.[3]
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Advantage: they are free or cheap and can be found quickly. Disadvantage: they were not collected for this business, so they may be out of date or not detailed enough about its market.
I got this one

1. Primary research collects new, first-hand data for a specific purpose. Secondary research uses data that has already been collected by someone else.
2. The information is up to date and collected for exactly the purpose the business needs. Competitors cannot see it, as the business gathered it itself.
3. Advantage: they are free or cheap and can be found quickly. Disadvantage: they were not collected for this business, so they may be out of date or not detailed enough about its market.