Lecture Marketing research (12th edition) - Chapter 5: Secondary sources of marketing data. In this chapter, the following content will be discussed: Data sources, sources of secondary data, uses of secondary data, benefits and limitations of secondary data,...
Marketing Research Aaker, Kumar, Leone and Day Twelfth Edition Instructor’s Chapter Five Secondary Sources of Marketing Data Marketing Research 12th Edition Data Sources Marketing Research 12th Edition Sources of Secondary Data Uses of Secondary Data • • • May provide enough information to resolve the problem being investigated Can be a valuable source of new ideas that can be explored later through primary research Acts as a prerequisite to collecting primary data and can help in designing the primary data collection process • Helps to define the problem and formulate hypotheses about its solution • Helps in defining the population / sample / parameters of primary research • Can serve as a reference base to compare validity of primary data Marketing Research 12th Edition Benefits and Limitations of Secondary Data Limitations Benefits • Low cost • Collected for some other purpose • Less effort • No control over data collection • Less time • May not be accurate • Sometimes more accurate • May not be in correct form • Sometimes only way to • May be outdated • May not meet data requirements • Assumptions have to be made obtain data In some cases secondary data can be more accurate than primary data. For example, if a company wants information on the sales, profits, and so forth, of other companies, it can get more reliable and accurate information from governmentreleased sources, trade associations, or general business sources than from the companies themselves Marketing Research 12th Edition Internal Sources of Secondary Data Internal Records • • • • Accounting Data Sales Reports Inventory Management Customer Database Marketing Research 12th Edition External Sources of Secondary Data Marketing Research 12th Edition Classification of Computerretrievable Databases Computer Retrievable Database Based on the Method of Storage and Retrieval of Information Online Databases Internet CDROM Databases Based on the Type of Information Floppy Disc Databases Direct from Vendors Direct from Producer Source Reference Indirect through Networks Classifying computerretrievable databases Marketing Research 12th Edition 10 Online Methods Advantages • • • Scope of information available Speed of information access and retrieval Commercially available search procedures provide considerable flexibility and efficiency Limitations • • • Rely solely on the accuracy of the abstract author Depend on the journal and article selection policy of the database producer Might miss important information, or retrieve a lot of irrelevant data if searching by “keyword” Marketing Research 12th Edition 11 NAICS Code North American Industrial Classification System • • • • Developed to provide a consistent framework for the collection, analysis and dissemination of industrial statistics Identified by a sixdigit code Sixth digit identifies subdivisions of NAICS industries that accommodate user needs in individual countries Has 20 broad sectors NAICS level Sector Subsector Internet) Industry group Industry U.S Industry NAICS code Description 51 515 5151 51511 515112 Information Broadcasting (except Radio and TV Radio Broadcasting Radio Stations SOURCE: http://www.census.gov/eos/www/naics/ Marketing Research 12th Edition 12 Appraising Secondary Sources Factors to Be Considered: • • • • • • Who has collected the data (did they have adequate resources)? Why was the data collected (how interests of the agency matches with ours)? How was the data collected (what is the quality of data onhand)? What data was collected (geographic and demographic limitations)? When was the data collected (how old/obsolete is the data)? Is there consistency? Marketing Research 12th Edition 13 Applications of Secondary Data • Demand Estimation • Monitoring the Environment • Segmentation and Targeting • Developing a Business Intelligence System Marketing Research 12th Edition 14 Applications of Secondary Data (Contd.) Marketing Research 12th Edition 15 Sources of Secondary Data for International Marketing Research Marketing Research 12th Edition 16 Problems Associated with Secondary Data in International Research Data Accuracy Comparability of Data Marketing Research 12th Edition 17 Applications of Secondary Data in International Research Selecting countries or markets that merit indepth investigation Making an initial estimate of demand potential in one or more countries using: ▫ Leadlag Analysis ▫ Surrogate Indicators ▫ Crosssectional Data / Barometric Procedures ▫ Econometric Forecasting Model Monitoring environmental changes Marketing Research 12th Edition 18 End of Chapter Five ...2 Chapter Five Secondary Sources of Marketing Data Marketing Research 12th Edition Data Sources Marketing Research 12th Edition Sources of Secondary Data Uses of Secondary Data • • •... Intelligence System Marketing Research 12th Edition 14 Applications of Secondary Data (Contd.) Marketing Research 12th Edition 15 Sources of Secondary Data for International Marketing Research Marketing Research. .. Problems Associated with Secondary Data in International Research Data Accuracy Comparability of Data Marketing Research 12th Edition 17 Applications of Secondary Data in International Research Selecting countries or markets that merit indepth