What type of marketing research provides secondary data that can be reused by various companies?

Prepare for the WGU BUS2050 D077 Concepts in Marketing, Sales, and Customer Contact Test. Engage with multiple choice questions enriched with hints and explanations. Ready yourself for success now!

Syndicated marketing research is a type of research where data is collected and sold to multiple clients, providing secondary data that can be reused by various companies. This approach allows businesses to access comprehensive data sets on market trends, consumer behavior, and industry insights without conducting the research themselves. Companies benefit from shared resources and insights, as they can leverage the data gathered by research firms that specialize in specific industries or topics.

In contrast, field research typically involves gathering data firsthand through surveys, interviews, or observations specific to a particular company, making the data proprietary rather than shared. Exploratory research aims to gain a deeper understanding of a problem but often does not yield quantifiable data that can be broadly applied. Descriptive research focuses on providing a snapshot of a particular market or segment at a specific point in time, often necessitating its own unique data collection efforts. Thus, compared to these alternatives, syndicated marketing research stands out for its capacity to provide reusable secondary data to a wide range of businesses.

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