Marketing Research

1. Marketing Research Aaker, Kumar, Day Ninth Edition Instructor’s Presentation Slides http://www.drvkumar.com/mr9/

2. Chapter Five Secondary Sources of Marketing Data http://www.drvkumar.com/mr9/

3. Data Sources • Secondary Data • Primary Data http://www.drvkumar.com/mr9/

4. Sources of Secondary Data http://www.drvkumar.com/mr9/

5. Uses of Secondary Data • May provide enough information to resolve the problem being investigated • Can be a source of new ideas that can be explored later • Acts as a prerequisite to collecting primary data and can help in designing the primary data collection process • Helps to define the problem and formulate hypotheses about its solution • Helps in defining the population / sample / parameters of primary research • Can serve as a reference base to compare validity of primary data http://www.drvkumar.com/mr9/

6. Low cost Less effort Less time Sometimes more accurate Sometimes only way to obtain data Collected for some other purpose No control over data collection May not be accurate May not be in correct form May be outdated May not meet data requirements Assumptions have to be made Benefits and Limitations of Secondary Data Limitations Benefits http://www.drvkumar.com/mr9/

7. Internal Sources of Secondary Data Internal Records • Accounting Data • Sales Reports • Inventory Management • Customer Database http://www.drvkumar.com/mr9/

8. External Sources of Secondary Data • Published data sources (e.g., Census, publications of various trade associations) • Trade directories • Computer retrievable databases ("online" databases) http://www.drvkumar.com/mr9/

9. Classification of Computer-retrievable Databases Computer Retrievable Database Based on the Method of Storage and Retrieval of Information Based on the Type of Information On-line Databases CD-ROM Databases Floppy Disc Databases Reference Source Indirect through Networks Direct from Producer Direct from Vendors Internet http://www.drvkumar.com/mr9/

10. Scope of information available Speed of information access and retrieval Commercially available search procedures provide considerable flexibility and efficiency Rely solely on the accuracy of the abstract author Depend on the journal and article selection policy of the database producer Might miss important information, or retrieve a lot of irrelevant data if searching by “keyword” Computer-Retrievable Methods Advantages Limitations http://www.drvkumar.com/mr9/

11. NAICS Code North American Industrial Classification System • Developed to provide a consistent framework for the collection, analysis and dissemination of industrial statistics • Identified by a six-digit code • Sixth digit identifies subdivisions of NAICS industries that accommodate user needs in individual countries • Has 20 broad sectors NAICS level NAICS code Description Sector 51 Information Subsector 513 Broadcasting and telecommunications Industry group 5133 Telecommunications Industry 51332 Wireless telecommunications carriers U.S. Industry 513321 Paging http://www.drvkumar.com/mr9/

12. Appraising Secondary Sources Factors to Be Considered: • Who has collected the data (did they have adequate resources)? • Why was the data collected (how interests of the agency matches with ours)? • How was the data collected (what is the quality of data on-hand)? • What data was collected (geographic and demographic limitations)? • When was the data collected (how old/obsolete is the data)? • Is there consistency? http://www.drvkumar.com/mr9/

13. Applications of Secondary Data • Demand Estimation • Monitoring the Environment • Segmentation and Targeting • Developing a Business Intelligence System http://www.drvkumar.com/mr9/

14. Census data Standard Industrial Classification (SIC) Trade association data Experts and authorities Press releases Legislation and laws Industry news Business and practitioner literature, such as magazines Applications of Secondary Data (Contd.) Demand Estimation Monitoring the Environment http://www.drvkumar.com/mr9/

15. PRIZM CLUSTER PLUS ACORN DMI NAICS TIGER Competitor’s annual reports Press releases Applications of Secondary Data (Contd.) Developing a Business Intelligence System Segmentation and Targeting http://www.drvkumar.com/mr9/

16. Sources of Secondary Data for International Marketing Research Economic Data • United Nations • World Bank • Business International Publications • Euromonitor • World Casts http://www.drvkumar.com/mr9/

17. Sources of Secondary Data for International Marketing Research (Contd.) Industry Data • United Nations yearbooks • U.S. Department of commerce • The Economist (publication) • Worldcasts Background Data • Dun and Bradstreet publications (e.g., Exporter's guide) • Price Waterhouse publications http://www.drvkumar.com/mr9/

18. Problems Associated with Secondary Data in International Research • Data Accuracy • Comparability of Data http://www.drvkumar.com/mr9/

19. Applications of Secondary Data in International Research • Selecting countries or markets that merit in-depth investigation • Making an initial estimate of demand potential in one or more countries using: • Lead-lag Analysis • Surrogate Indicators • Cross-sectional Data / Barometric Procedures • Econometric Forecasting Model • Monitoring environmental changes http://www.drvkumar.com/mr9/