06. Primary and secondary research advantages + disadvantages

Primary Market Research

Advantages

1. Tailor made to requirements of what businesses need to know

Disadvantages

1. Can be expensive

2. Can be slow

Secondary Market Research

Advantages

1. Gathered cheaply + quickly → newspapers, magazines, internet

2. Provides information on large topics of population

Disadvantages

1. Existing data may be:

   1. Not what business wants

   2. Out of date