Compare and contrast primary and secondary data and discuss how each is collected.
What will be an ideal response?
Secondary data are date previously collected for any purpose other than the one at hand. In contrast, primary data are information that is collected for the first time for the purpose of solving a particular problem.
Secondary data can originate within the company or come from innumerable outside sources, such as government departments, trade groups, periodicals, etc. The most popular technique for gathering primary data is through survey research in which a researcher interacts with consumers to elicit information. Another method is by observation, in which consumer behaviors are observed, but no interaction takes place. Finally, experiments can be used by a researcher to collect primary data.
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