What methods can be used to obtain business data?

The choice of primary and secondary research as a means to obtain business data is correct because these methods provide comprehensive and diverse ways to gather information relevant to business needs. Primary research involves collecting new data directly from sources through surveys, interviews, or experiments, allowing businesses to tailor the data collection to their specific questions or issues. This method is particularly valuable because it yields current and relevant information that reflects the specific context of the business.

On the other hand, secondary research entails gathering existing data that has already been collected and published by others, such as reports, academic journals, and industry publications. This can provide a broader understanding of market trends, customer behavior, and competitive analysis, complementing the findings from primary research.

In contrast, internal company newsletters are a specific form of communication that may not capture the breadth of data needed for comprehensive business analysis. While personal interviews are a form of primary research, they represent just one individual method rather than a generalized category. Discount coupons and promotions serve a different purpose, focusing on marketing strategies rather than systematic data collection, and thus would not be classified as methods for obtaining business data.