Which is the correct example of primary information in market research?
Answer and explanation
Correct answer: Asking customers questions directly and collecting their answers
Primary information, also called primary data, is collected first-hand for the specific research purpose. A customer interview or survey conducted directly by the entrepreneur is therefore primary information. Published government tables, news reports, and old company reports were collected or prepared earlier by others, so using them is secondary research. Direct collection does not automatically guarantee accuracy, but it defines the source as primary.
Frequently asked questions
What is the correct answer to this question?
Asking customers questions directly and collecting their answers
Why is this the correct answer?
Primary information, also called primary data, is collected first-hand for the specific research purpose. A customer interview or survey conducted directly by the entrepreneur is therefore primary information. Published government tables, news reports, and old company reports were collected or prepared earlier by others, so using them is secondary research. Direct collection does not automatically guarantee accuracy, but it defines the source as primary.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
