Collecting Secondary Data

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Presentation transcript:

Collecting Secondary Data Chapter 4

Primary v. Secondary Research Primary Data Advantages Disadvantages Secondary Data Secondary Data Research- Data gathered and researched by someone else. Adv- Faster, cheaper, Disadv- Not designed specifically for the needs of researcher (outdated, variation in terms, different units of measurement, lack of information to verify data’s accuracy. Cross-checks= Verifying data with another source in order to determine the similarity of independent projects.

Objectives for Marketing Research Fact Finding Identification of Consumer Behavior for a Product Category Trend analysis Market tracking Environmental scanning ICB- Who’s in the market? Market tracking- the observation and analysis of trends in industry volume and brand share over time. How much have they been buying over time? ES- Info gathering and fact finding designed to detect indications of environmental changes in their initial stages of development. Is the market changing? Looks at factors which might change the trends.

Objectives of Marketing Research Model Building Market potential for an area Forecasting sales Analysis of Trade Areas and Sites Data Mining Pulling out important information Neural networks Database Marketing MB- Create mathematical models which seem to predict how many will be purchased. Pizzas at Rio Grande= # of students* pizzas eaten per student each year FS- Tuition increases by 10%. Current tuition * 1.1= Next year’s tuition Site analysis- Techniques that use secondary data in order to determine where to place retail and wholesale stores. Index of retail saturation- Local MKT potential/ Square feet of retailing space NN- Computer can mimic the way the human brain works. Customer discovery- Get info on customers Sequence discovery- What do they before they buy this? DM- Using databases to keep track of certain individuals’ information so you can better target them

Database Marketing- Example Customer Birthday Purchases Item # Thoene Wesley 10/9 Reds cap 11111 Reds glove 28771 Reds jersey 37241 Moneyball 44523 Packers football 626689

Sources of Secondary Data Internal and Proprietary Data Decision support system External Data Where can I find data? Libraries The internet Vendors IPD- Comes from inside of a company Number, addresses, and names of MKT students when I did my survey. Sales force information Research done by someone outside of the organization. Libraries- Statistical Abstract, Fortune 500, ValueLine. The internet- Many sources, but may have to pay for some. Vendors- Hoovers. Can be expensive Producers

Producers of Secondary Data Books and Periodicals Any marketing journal Government Sources Census Statistical Abstract of the United States World Fact Book Media Sources Business Week, Fortune 500

Producers of Secondary Data Trade Association Sources Data for one industry Commercial Sources Market share data Consumer attitude and public opinion Advertising research Adv. Res- Nielsen. The example from Gupta’s class.

Single Source Data What is it?

International Research Issues Unavailability Accuracy Different terminology We will use: World Fact Book