A pharmaceutical company in 2016 is researching the market conditions for their newest cold medicine. They pull demographic data

Question

3 years ago

7

A pharmaceutical company in 2016 is researching the market conditions for their newest cold medicine. They pull demographic data

for their target city: Phoenix, AZ. They base their marketing efforts on that demographic data only to discover later that the data was from the 2010 Census. What type of known limitation did this company run into with their secondary research?

Business

1 answer:

Schach [20] · Answer 1 · 2022-02-12T23:00:48+03:00

Answer:

Secondary data technique is not perfect for marketing research

Explanation:

The secondary method is useful, as it is difficult to perform or conduct a new survey. More, importantly using secondary data technique in marketing research is not an ideal method, because the data may be inaccurate or outdated. The pharmaceutical company was performing marketing research, and usually, the availability of new marketing data is challenging to get from secondary sources.