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With
Paul Tilley
Unit 4:
Secondary Research
MR2300MARKETING RESEARCH HYBRID
Unit 4:
Secondary Research
In this video we will:
Stages of the Research Process
1.Problem Discoveryand DefinitionExploratory Research
Secondary Data Research
2. ResearchDesign
3. Sampling
4. DataGathering
5. Data Processingand Analysis
6. Conclusions andReporting
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
http://www.statcan.gc.ca/dai-quo/index-eng.htm
GOVERNMENT DATA IS OFTEN FREEStatistics 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.
http://www12.statcan.gc.ca/census-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 tothe time period of interest?
Does the data apply tothe population of interest?
Applicabilityto projectobjectives
Do the other terms and variable classifications presented apply?
Are the units ofmeasurement comparable?
If possible, go to the original source of thedata?
Evaluating Secondary Data (continued)
Applicabilityto projectobjectives
Accuracyof the data
Is the cost of dataacquisition worth it?
Accuracyof 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 ListsDataBase 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 PotentialFor 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 SalesVehicle Sales in NL
Analysis of Trade AreaVehicle Sales in NL
Population P 5,000
Annual per capita car sales
A $1,000
Local Mkt Potential
P * A $5,000,000
Square Feet of Car Selling Space
SM 100,000
Index of retail Saturation
(P*A)/SM 50 – 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