1) Uses of secondary research include all of the following EXCEPT:a. Identifying the problemb. Story completionc. Develop an approach to the problemd. Estimating demand

Answered: Uses of secondary research include all…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

1) Uses of secondary research include all of the following EXCEPT:
a. Identifying the problem
b. Story completion
c. Develop an approach to the problem
d. Estimating demand

Expert Solution

Step 1

Secondary market research is the approach of research that covers the collection and analysis of already existing data and information to reach necessary conclusions for the objective of the research. The data acquired in this method is called secondary data since the data, in this case, is not fresh and generally, this data is collected from different external sources.

The information leveraged in the secondary research is most available for free, and in some cases, it can involve cost. That is why it is more economical than primary research. While doing secondary research, it is vital to evaluate the validity and relevance of the data collected, because these are pre-existing data.