False. Secondary data collection methods are not losing their significance. Market research is practice of evaluating viability of a new service or product by interviewing prospective customers firsthand. Although it is frequently utilized for research papers, secondary data can also be used in marketing.
Market research enables a business to identify target market and obtain consumer comments and other input regarding their interest in good or service. Data that was previously gathered for a purpose other than current investigation is referred to as secondary data. It consists of information that has previously been gathered, usually by another person or group.
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