Write a paper that addresses the pros and cons of each research method with respect to both a new product launch and a revised product launch. Explain why there are different research needs for a new product versus a re-launch. Select from the following products: a mp3 player, a magazine, or a vehicle.
To summarize, your paper should include the following:
the pros and cons of primary research for a new product launch
the pros and cons of secondary research for a new product launch.
the pros and cons of primary research for a revised product launch
the pros and cons of secondary research for a revised product launch.
explain why there are different research needs (primary vs secondary) for a new product versus a re-launch.
Research Methods Name: Institution: Research Method Conducting a market research before launching products, whether new or revised is significant as it ensures that business organizations produce what the consumers want and not what the organizational leaders think the customers want. Two types of research methods exist including primary and secondary research methods. Primary research design involves a person or a group of individuals collecting original data about the market while secondary research method involves using existing data that others have already collected (McDonald, Gan, Fraser, Oke, & Anderson, 2015). These two approaches of research have advantages and disadvantages in respect a new product or a