Chapter 8 Secondary Data Research

November 28, 2018 | Author: Amanda Samaras | Category: Exports, Data Mining, Customer Relationship Management, Data, Trade
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MKTG 3808...


Chapter 8


8 –  –1 1

LEARNING OUTCOMES  After studying this chapter chapter,, you should be able to 1.

Discuss Discu ss the ad adva vant ntag ages es and and disa disadv dvan anta tage gess of sec secon onda dary ry data


Define Defi ne typ types es of se seco cond ndary ary da data ta an anal alys ysis is co cond nduc ucte ted d by by business research managers


Identify Ident ify va vario rious us in inte terna rnall and and pr prop oprie rieta tary ry so sour urces ces of  secondary data


Give ex Give exam ample pless of va vario rious us ext exter ernal nal so sour urce cess of sec secon onda dary ry data


Describe Descr ibe th the e impac impactt of sin single gle-s -sou ourc rce e data data and and glob global aliz izat atio ion n on secondary data research 8 –  –2 2

Secondary Data Research • Secondary Data

• Data gathered and recorded by someone else prior to and for a purpose other than the current project.

•  Advantages   Available 

Faster and less expensive than acquiring primary data Requires no access to subjects

Inexpensive—government data is often free

May provide information otherwise not accessible

• Disadvantages 

Uncertain accuracy

Data not consistent with needs

Inappropriate units of  measurement

Time period inappropriate (outdated) 8 –3


Evaluating Secondary Data

Is it possible to go to the original data source?

8 –4

Secondary Data Research (cont’d) • Data conversion • The process of changing the original form of the data to a format suitable to achieve the research objective • Also called data transformation

• Cross-checks • The comparison of data from one source with data from another source to determine the similarity of independent projects.

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Common Research Objectives for Secondary-Data Studies

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Typical Objectives for SecondaryData Research Designs • Fact Finding • Identification of consumer behavior for a product category • Trend Analysis • Market tracking—the observation and analysis of trends in industry volume and brand share over time.

• Environmental Scanning • Information gathering and fact-finding that is designed to detect indications of environmental changes in their initial stages of  development.

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Cola’s Share of the Carbonated Soft -Drink Market 

8 –8 Source: Theresa Howard, ―Coca-Cola Hopes Taking New Path Leads to Success,‖ USA Today, March 6, 2001, p. 6b. From USA Today a division of Gannett Co., Inc. Reprinted with Permission.

Model Building Estimating Market Potential

Forecasting Sales

Model Building

Analysis of Trade Areas and Sites 8 –9


Market Potential for Beer in Four Countries

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Sales Forecast Using Secondary Data and Moving Averages

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Secondary Data for Calculating an Index of Retail Saturation

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Data Mining • Data Mining • The use of powerful computers to dig through volumes of data to discover patterns about an organization’s customers and products; applies to many different forms of analysis.

• Neural Network • A form of artificial intelligence in which a computer is programmed to mimic the way that human brains process information.

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Data Mining (cont’d) • Market-Basket Analysis • A form of data mining that analyzes anonymous point-of-sale transaction databases to identify coinciding purchases or relationships between products purchased and other retail shopping information.

• Customer Discovery • Involves mining data to look for patterns identifying who is likely to be a valuable customer.

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Database Marketing and Customer Relationship Management  • Database Marketing • The use of customer relationship management (CRM) databases to promote one-to-one relationships with customers and create precisely targeted promotions.

• The practice of maintaining a customer database of: • Names and addresses • Past purchases • Responses to past efforts • Data from numerous other outside sources

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Sources of Internal Secondary Data • Internal and Proprietary Data • Accounting information • Sales information and backorders • Customer complaints, service records, warranty card returns, and other records.

• Intranets

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External Secondary Data Sources • External Data • Generated or recorded by an entity other than the researcher’s organization.

• Information as a product and its distribution • • • •

Libraries Internet Vendors Producers • Books and periodicals • Government • Media • Trade associations • Commercial sources

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Information as a Product and Its Distribution Channels

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Commercial Sources • Market-share data • Demographic and census updates • Consumer attitude and public opinion research • Consumption and purchase behavior data • Advertising research

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Single-Source and Global Research Data • Single-Source Data • Diverse types of data offered by a single company. • Usually integrated on the basis of a common variable (i.e., geographic area or store).

• Government Agencies • Global secondary data • Typical limitations of secondary data • Additional pitfalls • Unavailable in some countries • Questionable accuracy (political influences) • Lack of standardized research terminology

• CIA’s World Factbook; National Trade Data Bank

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Examples of Single-Source Databases

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Research Snapshot: Around the World of Data

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Examples of Information Contained in the NTDB

• Agricultural commodity production and trade • Basic export information • Calendars of trade fairs and exhibitions • Capital markets and export financing • Country reports on economic and social policies and trade practices • Energy production, supply, and inventories • Exchange rates • Export licensing information • Guides to doing business in foreign countries • International trade terms directory • How-to guides • International trade regulations/agreements • International trade agreements

• Labor, employment, and productivity • Maritime and shipping information • Market research reports • Overseas contacts • Overseas and domestic industry information • Price indexes • Small business information • State exports • State trade contacts • Trade opportunities • U.S. export regulations • U.S. import and export statistics by country and commodity • U.S. international transactions • World Fact Book • World minerals production

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