Which is a correct example of secondary data in market research?
Answer and explanation
Correct answer: Using an already published industry report
Secondary data is information that was previously collected by another person or organisation, often for a different purpose. An already published industry report fits this definition. Direct conversations, a new survey, and questions asked by the entrepreneur produce firsthand information and are therefore primary data.
Frequently asked questions
What is the correct answer to this question?
Using an already published industry report
Why is this the correct answer?
Secondary data is information that was previously collected by another person or organisation, often for a different purpose. An already published industry report fits this definition. Direct conversations, a new survey, and questions asked by the entrepreneur produce firsthand information and are therefore primary data.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
