Which of the following is a significant drawback of using secondary data in market research?
1
It provides information that is often out of date and not specifically relevant to the research problem.
2
It is time-consuming and expensive to collect.
3
It can be highly biased as it is always self-reported by consumers.
4
It may not provide sufficient data for specific geographic areas.
5
It lacks the depth and richness of primary data obtained directly from customers.