Chapter 5 Instructor Shan A. Garib, Winter 2013 Data Sources: Determining research design and where to obtain information Chapter 5 Instructor Shan A. Garib, Winter 2013

Determining Research Design and Where to Obtain Information Overview The research design chosen to collect information, and data sources will depend on: is secondary info available or will the researcher conduct primary research Whether researcher requires quant, qual data or both Whether the research is descriptive, exploratory, or casual The budget and timelines allotted for the research

Determining Research Design and Where to Obtain Information Overview

Determining Research Design and Where to Obtain Information Research Design Considerations Researchers must consider these four questions: What info needs to be known How accurate must be the information be What is the available timeline What is the available budget What information needs to be known? Determine which research objectives can be included in the research project Also determine how they can get the info to meet the objectives

Determining Research Design and Where to Obtain Information Research Design Considerations

Determining Research Design and Where to Obtain Information Research Design Considerations How accurate must the info be? Desire mostly will be for most accurate Sometimes not need most accurate data eg. What is size of new markets and general data says it’s large, then you don’t need in depth research What is the available timetable? Deadlines and how long the planned research will take affect the research timetable

Determining Research Design and Where to Obtain Information Secondary Data and Desk Research Small and medium sized company will conduct research by themselves –called desk research Researchers should start investigate whether any info can be sourced within the company eg. Talking to customers or distributors, employees

Determining Research Design and Where to Obtain Information

Determining Research Design and Where to Obtain Information Secondary Data and Desk Research Reasons why to conduct secondary data first! Cheaper to collect Faster to collect Secondary data might be available to answer the questions with no need for primary data Secondary data should also be used when: When considering entering unfamiliar markets, secondary data enable companies to appreciate the market needs When facts are unrealistic to collect firsthand eg annual consumption of coffee in Poland When companies need to understand trends eg financial markets

Determining Research Design and Where to Obtain Information Secondary Data and Desk Research Information from Secondary Research Desk research is good at getting info in the areas below: Business and Market Conditions Getting information on the economy, demographic info. Laws and regulations that might impact a business venture Market Size Business press, company financial data, government Competitors and Competing Products Info on brands, competing companies in a target market can be gotten from company websites, business press, trade publications

Determining Research Design and Where to Obtain Information Desk Research Using the Internet Techniques for Finding Data On-Line Internet searches should be planned and timed The more specific the keyword the better the results Search for exact phrases likely to be found in a particular industry Repeat keywords using alternative engines To make searches easier consider these strategies: Start by linking from known sites – WTO has links to databases about international trade Use a meta search engine

Determining Research Design and Where to Obtain Information Desk Research Using the Internet To make searches easier consider these strategies: Use Boolean searching eg and or not Search internet with Boolean in three different ways: Boolean operators eg or and not Imply Boolean logic using search terms Use predetermined language in a template Website Publishers – collections of related info on pages Governments provide info about their countries to inform ppl and attract foreign customers International organizations eg UN, disseminate info related to their mandates Manufacturers promote own products

Determining Research Design and Where to Obtain Information Desk Research Using the Internet Website Publishers Industry groups and association websites and provide specialized reports Universities operate sites to support academic research On-line encyclopedia eg wiki provide wealth of info Judging the accuracy of online information Researchers should apply the following guidelines: If in doubt throw it out Find out who the authors are Try and determine the purpose of the website

Determining Research Design and Where to Obtain Information Desk Research Using the Internet Judging the accuracy of online information Researchers should apply the following guidelines: See if ads are constant with website theme Check info against other sources Desk Research Using Offline Data Printed sources of info eg. IMD World Competitiveness Yearbook Statistical Yearbook from the UN

Determining Research Design and Where to Obtain Information Desk Research Using Offline Data Print Sources for Market Research Information Reports include market analysis, financial and market forecasts and market recommendations eg Economist Intelligence Unit Print Sources for Country reports The Europa Yearbook, the Exporter’s Encyclopedia

Determining Research Design and Where to Obtain Information Collecting Secondary Data Advantages – reduced costs and faster time Disadvantages – someone else collected the data so you must validate it. Pay attn to: Time Scales Confirm when secondary data was collected Data might be out of date Definitions Family might be defined differently Classifications Sometimes data is grouped together and has different breakdowns eg age ranges

Determining Research Design and Where to Obtain Information Collecting Secondary Data Source Bias – that presents a more favourable view of a country or organization Primary Data Sources Use whenever researchers need specific data about target market Primary data can provide info on: Customer attitudes towards a new product or service Feelings about pricing The demand for a new product or service The packaging that will gain favour Four sources of Primary data: observation, surveys and questionnaires, interviews, focus groups

Determining Research Design and Where to Obtain Information Primary Data Sources Different forms of primary data follow: Observation – insight into how customers behave in a particular market or situation eg. Observers monitoring customers or business activities from mechanical devices eg CCTV, webcams Most common source is info from bar scanners Scanners provide constantly updated info about product purchases and can provide data about shopping habits of people who pay by credit card or use store reward cards Neilson machines for TV viewing habits

Determining Research Design and Where to Obtain Information Primary Data Sources Observation Online observation is ubiquitous Websites monitor actions of visitors through hit counters, site trackers and use info to offer suggestions to customers Surveys and questionnaire's Specifically designed to answer a research objective Can be sent by email or mail or form a website, or telephone Completion rates are higher

Determining Research Design and Where to Obtain Information Primary Data Sources Interviews Can be informal or formal, one on one or in small groups Using an interviewer to collect information increases the accuracy of the data Information can be gathered in the following ways: -interviews with experts or government officials -interviews with company contacts -interviews with Economic Development Agencies -interviews with target market in malls -interviews conducted door to door Focus groups and panels Small group of respondents who are brought together on an informal manner to discuss ideas about products or service and details about their thoughts and experiences Useful but not quantifiable

Determining Research Design and Where to Obtain Information When to Use Primary Data Sources Advantages Current and accurate data gathered to answer a specific research objectives Information is confidential and can’t be used by competitors providing companies with competitive edge Can generate results faster than secondary Disadvantages Difficult to collect and takes long to test and correct questions Long delays in waiting for results from emailed or posted surveys/ questionnaires