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
Customer survey
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Answer
A customer survey is a key method of collecting primary data as it involves gathering information directly from individuals about their preferences, opinions, or experiences regarding a product or service. This aligns directly with the definition of primary data.
Step 2
Published journal
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A published journal typically contains secondary data, as it compiles and analyzes information previously gathered by other researchers. Therefore, it is not a source of primary data.
Step 3
Australian Bureau of Statistics catalogue
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The catalogue from the Australian Bureau of Statistics mainly provides access to secondary data, summarizing findings collected from various sources rather than collecting new data itself.
Step 4
Australian Bureau of Statistics census data
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Census data represents secondary data. It comprises demographic and economic statistics collected over time, making it a non-primary source.
