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Clyde wants to open a new store in his neighborhood but needs to first collect relevant data. A cost-effective way to start his research is by:
relying exclusively on primary data collection because it can be customized to ensure relevance.
relying solely on secondary data, even if it is insufficient. This allows the firm to free up both time and financial resources for the design and development of the actual store.
collecting primary data. Then, once the primary data is collected, use secondary sources to refine and verify the results.
collecting secondary data to narrow the list of possible locations, then use the results to focus primary research efforts on a limited number of possible locations.
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