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Marketers who want to avoid incurring unnecessary expenses when researching data should first gather:Multiple choice question.product dataresearch datasecondary dataprimary data

Question

Marketers who want to avoid incurring unnecessary expenses when researching data should first gather:Multiple choice question.product dataresearch datasecondary dataprimary data

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Solution

The correct answer is "secondary data".

Step 1: Understand the question. The question is asking what type of data should marketers gather first to avoid unnecessary expenses when researching data.

Step 2: Understand the options.

  • Product data: This is specific information about a product, which may not necessarily help in avoiding unnecessary expenses in research.
  • Research data: This is a broad term that could include any data gathered during research, not specific enough.
  • Secondary data: This is data that has already been collected by someone else and is readily available. Gathering this data first can help avoid unnecessary expenses because it may provide the needed information without having to conduct new, potentially costly research.
  • Primary data: This is new data that you collect yourself, which can be expensive and time-consuming.

Step 3: Choose the correct answer. In this case, the correct answer is "secondary data" because it is the most cost-effective option. It allows marketers to utilize existing data before deciding if primary research is necessary.

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