Question

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?

Answer 1

The pharmaceutical company ran into the limitation of using outdated demographic data from the 2010 Census for their secondary research, which may not accurately reflect the current population of Phoenix, AZ.

Step-by-step explanation:

The known limitation that the pharmaceutical company ran into with their secondary research is that the demographic data they used was from the 2010 Census, which means it is outdated. Since their research is focused on the market conditions for their newest cold medicine, using old demographic data may not accurately reflect the current population of Phoenix, AZ. This can result in ineffective marketing efforts and a potential mismatch between their target market and the actual market.

Answer 2

Secondary data technique is not perfect for marketing research

Step-by-step 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using secondary data technique in marketing research is not an ideal method, because the data may be inaccurate or outdated.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.