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Summary Chapter 6 BEM 314 notes
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A well-done summary of the whole of chapter 6 made from the class slides, the textbook and lecture notes.
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CHAPTER 6:COLLECTION OF SECONDARY
DATA
Steps in the market research process
1. Define the problem
2. Identify the research objectives PRELIMINARY RESEARCH
3. Determine the research design
4. Collect the secondary data
5. Select the method of primary data collection
6. Design the questionnaire
7. Design the sample plan FORMAL RESEARCH
8. Conduct the investigation (fieldwork)
9. Prepare and process the primary data
10. Analyze the primary data
11. Interpret the results and compile the research report
, The process of collecting data starts once the decision-maker has evaluated the
economic validity and practical feasibility of the research project and decided
to implement it. When the need for data arises, the researcher should look
within the enterprise itself (internal secondary data) and/or through outside
sources (external secondary data) before conducting a primary research
investigation. Only if there is insufficient secondary data to solve the problem is
a formal marketing research survey implemented, during which data is
collected.
PRIMARY DATA is data specifically collected for a problem/ opportunity through
interviews, surveys, and experiments.
SECONDARY DATA is data that already exists and includes all data that is collected
not specifically for solving the particular marketing problem/ gathered for other
purposes.
STEPS FOR COLLECTING SECONDARY DATA
1. SPECIFY DATA REQUIREMENTS
2. DETERMINE WHICH DATA WOULD BE OBTAINABLE FROM INTERNAL SOURCES
a. specify format for reporting
3. SEEK EXTERNAL SOURCES OF SECONDARY DATA
a. libraries
b. trade publications
c. data service directories d. trade associations
1. OBTAIN SECONDARY DATA
2. SCRUTINIZE VALIDITY OF DATA
a. evaluates collecting organization
b. considers objectives of the original study
c. appraises methods employed, definitions and classifications, and
currency
6. IDENTIFY DATA THAT MUST BE OBTAINED FROM PRIMARY SOURCES INSTEAD
Uses of secondary data are:
►formulating the decision-making problem
►suggesting methods and types of data for meeting information needs
►interpreting and evaluating primary data
►monitoring the enterprise’s external environment (economy, competitors,
consumers, technology, and suppliers)
►providing the basis for final decision making, especially when there is no time
or funds for a primary research investigation
►in longitudinal research studies
Problems associated with secondary data:
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