Asked by Lydia Mazuka on May 16, 2024
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Marketing information consists of secondary and primary data. Define each of these types of marketing information. Give examples for secondary and primary data.
Marketing Information
Data collected, analyzed, and used by businesses to make informed decisions about market trends, customer behavior, and competitive strategies.
Secondary Data
Information that has been collected previously by others and is available for use in new research or analysis.
Primary Data
Information collected directly for a specific research purpose or project, often through surveys, interviews, or experiments.
- Comprehend the obstacles encountered in marketing research, such as evaluating consumer readiness and acquiring firsthand data.
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Learning Objectives
- Comprehend the obstacles encountered in marketing research, such as evaluating consumer readiness and acquiring firsthand data.
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