Entrepreneurship and Small Business (ESB) Certification Practice Exam

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What type of data is collected from a focus group formed to provide opinions on a target market?

Primary data
Secondary data
Tertiary data
Market analysis data

The correct answer is: Primary data

The type of data collected from a focus group is classified as primary data. This is because primary data refers to information that is directly collected from original sources for a specific research purpose. In the context of a focus group, participants share their thoughts, opinions, and feelings regarding a specific target market, which allows businesses to gather firsthand insights tailored to their research objectives. Unlike secondary data, which involves analyzing existing information collected by others (such as reports, articles, or previously conducted surveys), primary data is original and unique to the current study. Tertiary data, on the other hand, compiles and summarizes primary and secondary data but does not provide the depth of insight that can be drawn from direct interactions in focus groups. Market analysis data is a broader term that can encompass various types of data and studies but does not specifically define the direct collection of opinions from participants. Hence, identifying primary data as the correct answer highlights the importance of gathering direct insights for tailored market research.