What type of data is collected by a company for its own accounting and marketing purposes?

The correct answer is internal secondary data because this type of data is generated within the organization itself and utilized for various internal processes such as accounting and marketing. This includes records like sales figures, customer databases, previous marketing research, and financial reports, all collected from the company’s own activities.

Internal secondary data is valuable because it is typically readily accessible and can provide insights into historical performance trends, customer behaviors, and market reactions without the added costs associated with collecting new or primary data. By analyzing this information, companies can make informed decisions and enhance their strategic marketing efforts.

In contrast, external secondary data refers to data collected from outside sources and may not be directly relevant to the specific needs of the company. A literature review is more about summarizing existing research findings rather than data collection for internal use. Primary data is original data collected specifically for a certain purpose or study, which requires more resources and time compared to the use of internal secondary data.