Which data type is defined as existing information collected for different purposes that can be utilized for marketing research?

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Prepare for the FBLA Marketing Exam with flashcards and multiple choice questions. Get exam ready with hints and explanations for each question. Enhance your marketing knowledge and skills!

The correct answer is secondary data, which refers to existing information that has been previously collected for purposes other than the current research project. This type of data is valuable in marketing research because it can save time and resources since it is readily available and has already been analyzed or summarized by others. Secondary data can come from various sources, such as industry reports, academic publications, government statistics, and previous market studies. By using secondary data, marketers can gain insights and support their research without the need for new primary data collection.

While primary data is collected specifically for the current research project, which entails conducting surveys or interviews, secondary data focuses on leveraging existing resources that may address the research objectives. Aggregate data typically refers to data that has been collected and compiled into a summary format from many sources, while market data generally refers to information about market trends, consumer behavior, and industry statistics. However, secondary data encompasses a broader range of information that can be beneficial in marketing research contexts.

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