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