marketing research 1. information that has already been collected for another purpose. marketing...

Marketing Research 1

Information that has already been collected for another purpose.

Marketing Research 2

Internal◦ Collected within your firm◦ Sales, personnel turnover, profit record, etc.

External◦ Collected outside the firm◦ Three types

Published: For public use From gov’t, nonprofits, trade orgs, companies

Standardized/Syndicated Standardized reports Usually subscription basis

Databases Bank of information e.g. Proquest, LexisNexis,

Dialog Marketing Research 3

Quick

Easy access

Free or relatively inexpensive

Avoid “reinventing the wheel”

Marketing Research 4

Not exactly what you need◦ e.g. income per household instead of per person

May be old◦ Takes time to get collected and posted

Difficult to assess quality◦ Poorly gathered research worse than none at all

Definitions/constructs may vary◦ E.g. categories of charitable donations

Marketing Research 5

Fact finding◦ Demographics, product use, trend analysis,

market tracking, environmental scanning Model building

◦ Relationships between variables◦ Market potential, sales forecasts

Data mining◦ Computer driven analysis of large databases

seeking meaningful patterns◦ Market basket analysis, sequence analysis

Marketing Research 6

What was the purpose of the study? Who collected the data? What data were collected? How? Does it fit with other findings?

Marketing Research 7

Two kinds:◦ Syndicated: all subscribers get same info

Pros: cheaper, quicker, higher quality than own

Cons: no control, no advantage, contracts

◦ Standardized services: researcher follows same process but data varies by firm

Pros: cheaper, quicker, higher quality than own, more custom than syndicated

Cons: can’t customize

Marketing Research 8

Assess consumer attitudes Define markets

◦ Geodemographics (geog + demog + psych)

◦ Grouping consumers (Goldfarb; VALS2)

Track market variables

◦ Store scanner data

◦ Home diaries, scanners

Monitor media use/effectiveness

◦ Nielsen, Arbitron, Roper Starch, Simmons

Single source data

◦ Media + purchasesMarketing Research 9

SecondaryData.com LexisNexis:

◦ subscription-based

Proquest: access from library homepage ◦ variety of databases including ABI Inform

Statistics Canada:

◦ http://www.statcan.ca/

Marketing Research 10

Online forums, reviews, etc. People post reviews for others to see

◦ Amazon.com (or .ca)

◦ tripadvisor.com

A researcher can simply “tap into” that◦ e.g., Online restaurant reviews

Marketing Research 11

Marketing Research 12