Chapter 5 Flashcards
Secondary data
Data previously collected for any purpose other than the one at hand
- internal corporate information
- Government agencies
- Trade/industry associations
- business publications
- News media
Advantages and disadvantages to secondary data
Advantages:
- Saves time and money
- Provides direction for primary data collection
Disadvantages
- May not provide sufficient information
- May not be on target with research problem
Primary data
Information collected for the first time. Can be used for solving specific problem under investigation
- ad tracking
- buyer decision process
- concept testing
- customer satisfaction
- marketing effectiveness
- sales forecasting
- segmentation research
- test marketing
Advantages and disadvantages to primary data
Advantages - answer specific question - current data - known source of data -Maintain secrecy Disadvantages - Expensive - Time consuming
Market research process
Define problem design research project collect data analyze data take action
define problem
Start with the end in mind
Design research project
Exploratory research
Conclusive research
Exploratory research
GENERAL–obtain impressions and insights
- small, subjective, convenient
- Personal interviews, observations, focus groups
- qualitative analysis
Recommendations
- identify problems/opportunities
- Provide marketing perspectives
- establish priorities
- formulate alternative ideas
Conclusive research
SPECIFIC–Confirm impressions and insights
- large, objective
- surveys, scanner data
- Quantitative
Recommendations
- find associations between marketing variables and outcomes
- Identify causal relationships
Syndicated data
Data collected for specific industries
Collect data
personal interviews focus group interviews observation web, telephone, email, mail surveys mall intercept
four types of error
Sampling error
measurement error
coverage error
Non-response error
Sampling error
Drawing small samples from large populations
Fix: Increase the sample size
Measurement error
Asking questions which don’t measure what we hope to measure
Fix: Ask appropriate questions
Coverage error
Sample does not represent the population of interest
Fix: scree for representative sample
