Define what you understand by Primary & Secondary research? Outline examples of advantages and disadvantages for each.

Primary research - Field research
Involves gathering information for the 1st time.
-generally collect by a specialist research company.

MORE ACCURATE
MORE UP TO DATE
RELIABLE
MORE SPECIFIC
NO-ONE ELSE HAS IT
EXPENSIVE

COULD BE MORE TIME CONSUMING

NOT VARIED DATA

Secondary research- Desk research

Is researching through secondary data, e,g newspapers, internet. Involves gathering and analysing data that has already been gathered, can be from within firm or obtained outside. It is better for general trends. 

COMPETITORS CAN USE IT

CAN BE BIAS

CAN BE IRRELEVANT

CAN BE NOT UP-TO-DATE

LESS RELIABLE

CHEAPER

QUICKER

EASIER TO DO