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