Marketing research: Chapter 3
Conceptualization
involves: identifying variables for research, specifying, hypotheses and relationships, preparing a diagram (conceptual model) that visually represents the relationships you will study.
Internal Sources of Secondary data
logical starting point in searching got secondary data in the companies own internal information. Internal data sources can be highly effective in helping decision makers plan new-product introductions or new distribution outlets. Generally internal secondary data consists of sales, accounting, or cost information
Syndicated data
market research data is collected, packages, and sold to many different firms
External sources of secondary data: Popular sources/scholarly sources
more current than scholarly sources and are written using less technical language (ex: marketing blogs)
Criteria for secondary data: Bias
must determine the underlying motivation or hidden agenda
Consumer panels
primarily measure media consumption habits as opposed to product or brand consumption
Criteria for secondary data: Accuracy
researchers need to keep in min what was actually measured , must also evaluate when the secondary data was collected.
Variables
(to test a model, you must have 3 elements: variables, constructs, and relationships) observable item that is used as a measure on a questionnaire. Concrete properties are measured (ex: gender, marital status).
Value of Secondary Data and Literature Reviews
Emerging form of secondary data=customer volunteered info or customer knowledge information. Data of this nature is more readily and often represents more engaged and authentic customer sentiment than data collected using traditional research methods. Also is less expensive. Primary data is collected by me, for me.
Secondary data and the marketing research Process
Secondary research plays a subordinate role to primary research. In produce/ advertising concept testing, focus groups, customer satisfaction surveys, only primary research can provide answers to the marketing problems. Secondary research is often the starting point in defining the research process.
Positive relationship
an association between 2 variables in which they increase or decrease together
Constructs
an observable, abstract concept that is measured indirectly by a group of related variables (ex: quality, value, customer satisfaction)
Negative relationship
as one variable increases, the other one decreases
Relationships
associations between 2 or more variables
Internal secondary data
collected by a company for accounting purpose, marketing programs, inventory management, and so forth. (Ex: customer knowledge info, customer feedback can be invaluable for marketing decisions.
External secondary data
collected by outside organization such as federal and state government, trade associations, nonprofit organizations, marketing research services, academic researchers, available through digital sources. Secondary data used to be viewed as having limited value. Increasingly used to examine marketing problems because of the relative speed and cost-effectiveness of obtaining data.
Literature Review
comprehensive examination of available secondary info related to your research topic, background research. Can be helpful because it provides background and contextual information for the current study. Clarifies thinking about the research problem and questions that are the focus of the study. Reveals whether info already exists that addresses the issue of interest. Helps researchers better understand a research problem. This types of reviews may include a search of popular, scholarly, government, and commercial sources available outside the company.
store audits
consist of formal examination and verification of how much a particular product or brand has been sold at the retail level.
secondary data
data gathered for some other purpose than the immediate study
Criteria used to evaluate secondary data: Purpose
data must be carefully evaluated on how it relates to the current research objective
External sources of secondary data: Guidebook Sources
data provides detailed profile of economic activity within a given geographic region is used for comparison
External Sources of secondary data North American Industry Classification System (NAICS)
designed to promote uniformity in data reporting by federal and state government sources and private business
External sources of secondary data: Government sources
detail, completeness, and consistency are major reasons for using US government documents
Criteria for secondary data: Methodology
flaws in the methodological procedures can produce results that are invalid, unreliable, or not generalizable beyond the study itself, the researcher must evaluate the size and description of the sample, the response rate, the questionnaire, and the overall procedure for collecting the data.
Criteria for secondary data: Consistency
seek out multiple sources of the same data to assure consistency
Null Hypothesis
states that there is no relationship between the variables
Alternative hypothesis
states the there is a relationship between two variables
Hypothesis
suggest relationship b/w variable. Empirically testable through yet unproven statement developed in order to explain phenomena
Criteria for secondary data: Credibility
technical competence, service quality, reputation, training, and expertise of personnel representing the organization are some of the measures
Sample statistic
the value of a variable that is estimated from a sample.
Dependent variable
the variable or construct researchers are seeking to explain
Parameter
true value of the variable, can only be known by collecting data from every member of the relevant population.
Independent variable
variable or construct that predicts or explains the outcome variable of interest