Explain one limitation of secondary market research data, such as that presented in Extract D - Edexcel - A-Level Business - Question 2 - 2019 - Paper 1
Question 2
Explain one limitation of secondary market research data, such as that presented in Extract D.
Extract D
The US coffee market 2016
12.3% Consumers aged 25 to 39
13... show full transcript
Worked Solution & Example Answer:Explain one limitation of secondary market research data, such as that presented in Extract D - Edexcel - A-Level Business - Question 2 - 2019 - Paper 1
Step 1
Knowledge and Understanding
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Answer
A limitation of secondary market research data is that it is often collected by an organization for general use. This means it might not be tailored to specific market needs or circumstances.
Step 2
Application - Contextual Example
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Answer
In this case, the data is from 2016, making it three years old. Additionally, it indicates that consumers aged 40-59 account for 63.2% of coffee consumption in the USA.
Step 3
Analysis
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Answer
The demographic information presented may have changed over time, which could potentially make the data less accurate or less useful for current market analysis.
