A business collects its own primary data through market research prior to developing a new product - HSC - SSCE Business Studies - Question 5 - 2020 - Paper 1
Question 5
A business collects its own primary data through market research prior to developing a new product.
Which of the following could this business have used to provide ... show full transcript
Worked Solution & Example Answer:A business collects its own primary data through market research prior to developing a new product - HSC - SSCE Business Studies - Question 5 - 2020 - Paper 1
Step 1
A. Customer survey
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Answer
A customer survey is a direct method of collecting primary data as it involves gathering information directly from individuals about their preferences and experiences.
Step 2
B. Published journal
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A published journal typically contains secondary data, as it reports on research conducted by others and does not involve gathering original data directly.
Step 3
C. Australian Bureau of Statistics catalogue
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The Australian Bureau of Statistics catalogue provides secondary data, as it is a compilation of existing data rather than new data collected directly by the business.
Step 4
D. Australian Bureau of Statistics census data
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Census data from the Australian Bureau of Statistics is also considered secondary data since it includes aggregated data collected by the bureau, rather than data collected firsthand by the business.
