Marketing Research Ch 4

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Primary Data vs Secondary Data

*Primary Data*: Collected for the problem at hand, very involved collection process, high collection cost, long collection time *Secondary Data*: Collected for other problems, rapid and easy collection process, relatively low collection cost, short collection time

Disadvantages of Secondary Data

-Usefulness to current problem -Objectives, nature, and methods may not be appropriate for present situation -May be lacking in accuracy/relevance -May not be completely current or dependable

Secondary Data can help you...

1. Identify the problem 2. Better define the problem 3. Develop and approach to the problem 4. Formulate an appropriate research design (identifying key variables) 5. Answer certain research questions and test some hypotheses 6. Interpret primary data more insightfully

Data Warehouse

A centralized database that consolidates company-wide data from a variety of operational systems

Customer Relationship Management (CRM)

A decision support system that is used for managing the interactions between an organization and its customers

Single-source Data

An effort to combine data from different sources by gathering integrated information on household and marketing variables applicable to the same set of respondents.

Big Data

Big data denotes a voluminous amount of structured, semi-structured, and unstructured data with the potential to be mined for information.

Uses of Scanner Data

Can be used for tracking sales, prices, distribution, modeling, and analyzing early warning signals Testing new products, repositioning products, analyzing promotional mix, and making advertising decisions, including budget, copy and media, and pricing

Syndicated services

Companies that collect and sell common pools of data designed to serve the information needs of multiple clients Classified based on unit of measurement (households, consumers, or institutions)

Industrial product syndicated services

Data banks on industrial establishments created through direct inquiries of companies, clipping services, and corporate reports *A:* Important source of information on industrial firms; particularly useful in initial phases of the project *D:* Data are lacking in terms of content, quantity, and quality

Secondary Data

Data collected for some purpose other than the problem at hand. Can be located quickly and inexpensively

External Data

Data generated by sources outside the organization. Available in the form of business/nongovernment, government sources, syndicated services, and social media

Internal Data

Data generated within the organization for which the research is being conducted. May be available in a ready-to-use format, such as information routinely supplied by the management decision support system May require considerable processing before they are useful to the researcher

Primary Data

Data originated by the researcher for the specific purpose of addressing the research problem.

Uses of Audit Data

Determining the size of the total market and the distribution of sales by type of outlet, city, or region; (2) assessing brand shares and competitive activity; (3) identifying shelf space allocation and inventory problems; (4) analyzing distribution problems; (5) developing sales potentials and forecasts; (6) developing and monitoring promotional allocations based on sales volume

Advantages of Secondary Internal Data

Easily available and inexpensive.

Media Panels

Electronic devices automatically recording behavior, supplemented by a diary *A:* Same as purchase panel *D:* Same as purchase panel

Error/accuracy (Criteria for secondary data)

Examine errors in: approach, research design, sampling, data collection, data analysis, reporting Remarks: Assess accuracy by comparing data from different sources

Uses of Panels

Forecasting sales Estimating market shares Assessing brand loyalty Brand-switching behavior Establishing profiles of specific user groups Measuring promotional effectiveness Conducting controlled store tests

Intranets

Greatly facilitate the search for and access to internal secondary data

Scanner Volume Tracking Data

Household purchases are recorded through electronic scanners in supermarkets *A:* Data reflect actual purchases; timely data; less expensive *D:* Data may not be representative; errors in recording purchases; difficult to link purchases to elements of marketing mix other than price

Purchase Panels

Households provide specific information regularly over an extended period of time; respondents asked to record specific behaviors as they occur *A:* Recorded purchase behavior can be linked to the demographic/psychographic characteristics *D:* Lack of representativeness; response bias; maturation

Data Mining

Involves the use of powerful computers with advanced statistical packages and other software to analyze large databases to discover hidden patterns in the data

Specifications/Methodology (Criteria for secondary data)

Issues: Data collection Method, response rate, quality of data, sampling technique, sample size, questionnaire design, fieldwork, data analysis Remarks: Data should be reliable, valid, and generalizable to the problem at hand.

Nature (Criteria for Secondary Data)

Issues: Definition of key variables, units of measurement, categories used, relationships examined Remarks: reconfigure the data to increase their usefulness, if possible

Dependability (Criteria for Secondary Data)

Issues: Expertise, credibility, reputation, and trustworthiness of the source Remarks: Data should be obtained from an original rather than an acquired source

Currency (Criteria for secondary data)

Issues: Time lag between collection and publication, frequency of updates Remarks: Census data are periodically updated by syndicated firms

Objective (Criteria for Secondary Data)

Issues: Why were the data collected? Remarks: The objective will determine the relevance of the data

Government Sources

Largest source of secondary data. Breadth and accuracy. Can be divided into census data and other types

Use of Surveys

Market segmentation Establishment of consumer profiles. Determining product image, positioning and measurement, and conducting price perception analysis. Advertising theme selection Evaluation of advertising effectiveness.

Syndicated Panel Surveys

Measure the same group of respondents over time but not necessarily on the same variables Used to implement different cross-sectional designs at different points in time, generally for different surveys.

Business/Nongovernment Data

Nonprofit organizations, trade and professional organizations, commercial publishers, investment brokerage firms, and for-profit firms. Most of this data can be accessed on the internet. Also books, periodicals, journals, newspapers, magazines, reports, and trade literature

Mobile Research

Particularly appropriate for confucting audits of point of sale, shelf displays, and promotional material as it can capture visual proof to support the other parameters being collected.

Lifestyles

Refers to the distrinctive modes of living of a society or some of its segments (Activities, Interests, Opinions (AIO's))

A variety of business-related sites can provide...

Sales leads, mailing lists, business profiles, and credit ratings for U.S. Businesses

Scanner panels with cable TV

Scanner panels of households that subscribe to cable TV *A:* Data reflect actual purchases; sample control; ability to link panel data to household characteristics *D:* Data may not be representative; quality of data limited

General rule to secondary data:

Start with secondary data. Proceed to primary data only when the secondary data sources have been reasonably exhausted or yield marginal returns.

Surveys

Surveys conducted at regular intervals *A:* Most flexible way of obtaining data; information on underlying motives *D:*Interviewer errors; respondent errors

Database Marketing

The practice of using CRM databases to develop relationships and highly targeted marketing efforts with individuals and customer groups

Psychographics

The psychological profiles of individuals and to psychologically based measures of lifestyle

NAICS (North American Industry Classification System)

US, Mexico, Canada created common classification system. Six-digits that accomodate a larger number of sectors and are more flexible in designating subsections.

Census Data

Useful in a variety of marketing research projects. Include information about household types, sex, age, marital status, and race Can be categorized geographically at various levels of detail. High quality and extremely detailed.

Audit services

Verification of product movement by examining physical records or performing inventory analysis *A:* Relatively precise information at the retail and wholesale levels *D:* Coverage may be incomplete; matching of data on competitive activity may be difficult

Big Data Characteristics

Volume, Velocity, Variety, Variability, Complexity

Institution Data

may be obtained from retailers, wholesalers, or industrial firms.

Household/consumer data

may be obtained from surveys, panels, or electronic scanner services

Uses of Industry Services

sales management decisions advertising decisions segmenting the market designing custom products and services for important segments.

Advertising Evaluation Surveys

to assess the effectiveness of advertising using print and broadcast media


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