Exploring Marketing Research Chapter 7 Secondary Data Research in a Digital Age.doc

Exploring Marketing Research Chapter 7 Secondary Data Research in a Digital Age
Exploring
Marketing Research
William G1>. Zikmund
Chapter 7:
Secondary Data
Research in a Digital Age
Secondary Data
Data gathered and recorded by someone else prior to and for a purpose other than the current project
Is often:
Historical
Already assembled
Needs no access to subjects
Advantages of Secondary Data
Inexpensive
Obtained Rapidly
Information is not Otherwise Accessible
Government data is often free
Copyright ? 2000 by Harcourt, Inc. All rights reserved.
Disadvantages of Secondary Data
Uncertain Accuracy
Data Not Consistent with Needs
Inappropriate Units of Measurement
Time Period Inappropriate (Dated)
Secondary Data may be Dated
The Economic Census profiles the . economy every 5 years, from the national to the local level.
Copyright ? 2000 by Harcourt, Inc. All rights reserved.
Evaluating Secondary Data
Does the data help to
answer questions
set out in the
problem definition?
Does the data apply to
the time period of
interest?
Does the data apply to
the population of
interest?
Applicability
to project
objectives
Do the other terms
and variable
classifications
presented apply?
Are the units of
measurement
comparable?
If possible, go to the
original source of the
data?
Evaluating Secondary Data (continued)
Applicability
to project
objectives
Accuracy
of the data
Is the cost of data
acquisition worth it?
Accuracy
of the data
Is there a possibility
of bias?
Can the accuracy of
data collection be
verified?
Objectives for Secondary Data Studies
Fact Finding
Model Building
Data Based Marketing
Common Research Objectives
for Secondary Data Studies
Fact Finding - Identifying consumption patterns
- Tracking trends
Model building - Estimating market potential
- Forecasting sales
- Selecting trade areas and sites
Data Base Marketing - Development of Prospect Lists
- Enhancement o