LEARNING OUTCOMES
LEARNING OUTCOMES
1.
1.
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2.
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business research managers
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3.
3.
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secondary data
4.
4.
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io
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on secondary
on secondary
data research
data research
88 – –22After studying this cha
Secondary Data Research
•
Secondary Data
•
Data gathered and recorded by someone else prior to and for a purpose other than the current project.• Advantages
Available
Faster and less expensive
than acquiring primary
data
Requires no access to
subjects
• Disadvantages
Uncertain accuracy
Data not consistent with
needs
Inappropriate units of
measurement
EXHIBIT 8.1 Evaluating Secondary Data
8 –4
Is it possible to go to the original data source?
Secondary Data Research
(cont’d)
•
Data conversion
•
The process of changing the original form of the data to a format suitable to achieve the research objective• Also called data transformation
•
Cross-checks
•
The comparison of data from one source with data from another source to determine the similarity of independent projects.EXHIBIT 8.2 Common Research Objectives for Secondary-Data Studies
Typical Objectives for
Secondary-Data Research Designs
•
Fact Finding
•
Identification of consumer behavior for a product category•
Trend Analysis• Market tracking—the observation and analysis of trends in industry volume and brand share over time.
•
Environmental Scanning• Information gathering and fact-finding that is designed to detect indications of environmental changes in their initial stages of development.
EXHIBIT 8.3 Cola’s Share of the Carbonated Soft -Drink Market
8 –8
Source: Theresa Howard, ―Coca-Cola Hopes Taking New Path Leads to Success,‖ USA Today, March 6, 2001, p. 6b. From USA Today a division of Gannett Co., Inc. Reprinted with Permission.
Model Building
Estimating Market
Potential
Forecasting
Sales
Model
Building
EXHIBIT 8.4 Market Potential for Beer in Four Countries
8 – 10
EXHIBIT 8.6 Secondary Data for Calculating an Index of Retail Saturation
8 – 12
Data Mining
•
Data Mining
•
The use of powerful computers to dig through volumes of data to discover patterns about an organization’s customers andproducts; applies to many different forms of analysis.
•
Neural Network
•
A form of artificial intelligence in which a computer isprogrammed to mimic the way that human brains process information.
Data Mining (cont’d)
•
Market-Basket Analysis
•
A form of data mining that analyzes anonymous point-of-sale transaction databases to identify coinciding purchases orrelationships between products purchased and other retail shopping information.
•
Customer Discovery
•
Involves mining data to look for patterns identifying who is likely to be a valuable customer.8 – 14
Database Marketing and Customer
Relationship Management
•
Database Marketing
•
The use of customer relationship management (CRM) databases to promote one-to-one relationships with customers and create precisely targeted promotions.•
The practice of maintaining a customer database of:• Names and addresses
• Past purchases
Sources of Internal Secondary
Data
•
Internal and Proprietary Data
•
Accounting information•
Sales information and backorders•
Customer complaints, service records, warranty card returns, and other records.•
Intranets8 – 16
External Secondary Data
Sources
•
External Data
•
Generated or recorded by an entity other than the researcher’s organization.•
Information as a product and its distribution
•
Libraries•
Internet•
Vendors•
ProducersEXHIBIT 8.7
Information as a Product and Its Distribution Channels
8 – 18
Commercial Sources
•
Market-share data
•
Demographic and census updates
•
Consumer attitude and public opinion research
•
Consumption and purchase behavior data
Single-Source and Global Research
Data
•
Single-Source Data
•
Diverse types of data offered by a single company.•
Usually integrated on the basis of a common variable (i.e., geographic area or store).•
Government Agencies
•
Global secondary data• Typical limitations of secondary data
• Additional pitfalls
• Unavailable in some countries
• Questionable accuracy (political influences) • Lack of standardized research terminology
•
CIA’s World Factbook; National Trade Data Bank8 – 20
Research Snapshot: Around the World of Data
8 – 22
EXHIBIT 8.10 Examples of Information Contained in the NTDB
• Agricultural commodity production and trade
• Basic export information
• Calendars of trade fairs and exhibitions • Capital markets and export financing • Country reports on economic and social
policies and trade practices • Energy production, supply, and
inventories • Exchange rates
• Export licensing information
• Guides to doing business in foreign countries
• Labor, employment, and productivity • Maritime and shipping information • Market research reports
• Overseas contacts
• Overseas and domestic industry information
• Price indexes
• Small business information • State exports
• State trade contacts • Trade opportunities • U.S. export regulations
