Chapter Five Secondary Sources of Marketing Data

1. Chapter FiveSecondary Sources of Marketing Data Esther, Tseng 曾愛華

2. Outlines • Data Sources • Sources of Secondary Data • Internal Sources, External Sources • Uses of Secondary Data • Benefits and Limitations of Secondary Data • Internal Sources of Secondary Data • External Sources of Secondary Data • Appraising Secondary Sources • Sources of Secondary Data for International Marketing Research • Problems Associated with Secondary Data in International Research /

3. Data Sources • Secondary Data • Primary Data /

4. Sources of Secondary Data /

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 /

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Collected for some other purpose No control over data collection May not be accurate May not be in correct form May be outdated May not meet data requirements Assumptions have to be made Benefits and Limitations of Secondary Data Benefits Limitations /

7. Internal Sources of Secondary Data • Accounting Data • Sales Reports • Inventory Management • Customer Database /

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

9. 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? /

10. Problems Associated with Secondary Data in International Research • Data Accuracy • Comparability of Data /

11. The End Thank you!!

12. Applications of Secondary Data • Demand Estimation • Monitoring the Environment • Segmentation and Targeting • Developing a Business Intelligence System /

13. 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 /

14. 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 /

15. 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 /

16. Sources of Secondary Data for International Marketing Research Economic Data • United Nations • World Bank • Business International Publications • Euromonitor • World Casts /

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 /