With Paul Tilley Unit 4: Secondary Research MR2300 MARKETING RESEARCH HYBRID

Unit 4: Secondary Research

In this video we will:

Stages of the Research Process 1.Problem Discovery and Definition Exploratory Research Secondary Data Research 2. Research Design 3. Sampling 4. Data Gathering 5. Data Processing and Analysis 6. Conclusions and Reporting and so on

SECONDARY DATA Secondary data is data that has been gathered and recorded by someone else prior to and for a purpose other than the current project. Is often: Historical Already assembled Needs no access to subjects

ADVANTAGES OF SECONDARY DATA  Available (Google)  Inexpensive  Obtained Rapidly  Information is not Otherwise Accessible

GOVERNMENT DATA IS OFTEN FREE Statistics Canada Labour Force Survey, June 2014

DISADVANTAGES OF SECONDARY DATA  Not tailored to a particular research question  Uncertain Accuracy (Reputable source?)  Reliability may be questionable  May not be valid  Consider its age  Data Not Consistent with Needs  Inappropriate Units of Measurement

SECONDARY DATA MAY BE DATED Statistics Canada Canadian Census the Canadian Census every 5 years, from the national to the local level. recensement/2011/dp-pd/index- eng.cfm

Evaluating Secondary Data Does the data help to answer questions set out in the problem definition? Does the data apply to the time period of interest? Does the data apply to the population of interest? Applicability to project objectives

Do the other terms and variable classifications presented apply? Are the units of measurement comparable? If possible, go to the original source of the data? Evaluating Secondary Data (continued) Applicability to project objectives Accuracy of the data

Is the cost of data acquisition worth it? Accuracy of the data Is there a possibility of bias? Can the accuracy of data collection be verified?

Fact Finding- Identifying consumption patterns - Tracking trends - Environmental Scanning Model building- Estimating market potential - Forecasting sales - Analysis of trade areas and sites - Advertising Response Rates Data Mining/ - Development of Prospect Lists DataBase Marketing- Enhancement of Customer Lists COMMON RESEARCH OBJECTIVES FOR SECONDARY DATA STUDIES

FACT FINDING  Identify consumer behavior  Trend analysis  Environmental scanning

Identify consumer behavior

Trend analysis

ENVIRONMENTAL SCANNING

MODEL BUILDING  Market potential  Forecasting sales  Analysis of trade areas

Estimating Market Potential For Hybrid Vehicle Sales in NL If 2.5% of carsales are hybrids, and if NL care sales in 2013 was 35,439 units – then we estimate that we estimate around 900 hybrids were sold in NL in 2013

Forecasting Sales Vehicle Sales in NL

Analysis of Trade Area Vehicle Sales in NL PopulationP5,000 Annual per capita car sales A$1,000 Local Mkt Potential P * A$5,000,000 Square Feet of Car Selling Space SM100,000 Index of retail Saturation (P*A)/SM50 – low opportunity for growth

DATA MINING/DATA BASED MARKETING  Computer/Interned analysis of metadata  Practice of maintaining a customer data base  Names  Addresses  Past purchases  Responses to past efforts  Data from numerous sources

INTERNAL DATA Internal and proprietary data is more descriptive  Accounting information  Sales information  Backorders  Customer complaints

EXTERNAL DATA  Libraries  The Internet  Vendors  Producers  Books and periodicalsGovernment  Trade associations  Newspapers and journals Created, recorded, or generated by an entity other than the researcher’s organization

GLOBAL SECONDARY DATA  Typical limitations  Additional pitfalls  Unavailable  Questionable accuracy  Lack of standardized terminology