MKF2121 Week 03 Moodle.pdf - Lecture Lecture 3 Secondary and Syndicated Sources of Marketing Data Dr Junzhao Ma MKF2121 Marketing Research Methods

MKF2121 Week 03 Moodle.pdf - Lecture Lecture 3 Secondary...

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Lecture 3 Secondary and Syndicated Sources of Marketing Data Department of Marketing Dr. Junzhao Ma MKF2121 Marketing Research Methods Today’s agenda – Secondary data 2 What is secondary data Different types of secondary data and how they are used in marketing research From secondary data to “big data” Marketing Research Process Step 1: Defining the Problem Step 2: Developing an Approach to the Problem Step 3: Formulating a Research Design Step 4: Doing Field Work or Collecting Data Step 5: Preparing and Analyzing Data Step 6: Preparing and Presenting the Report 3
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Last Week Lecture - what is research design Think of it as different research methods/resources to help you answer your research questions (RQs) (e.g., conducting survey via questionnaire, running lab experiments) Some types of research designs could also help you come up with research questions (RQs) (e.g., researching previous literature) 4 5 Different types of research design (from last week) Exploratory Research Design Conclusive Research Design Research Design Descriptive Research Causal Research Secondary Data Qualitative Research 6 Research Design Exploratory Research Design Conclusive Research Design Research Design Secondary Data Qualitative Research Ambiguous problem Provide insight Info defined loosely Process flexible Small sample Results tentative
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7 Research Design Exploratory Research Design Conclusive Research Design Research Design Hypothesis testing Info clearly defined Process formal Large sample Results conclusive Descriptive Research Causal Research A general categorization of marketing research data 8 Marketing research data Primary data Secondary data Primary data is originated by a researcher (i.e., you ) for the specific purpose of addressing the problem at hand Secondary data has already been collected (i.e., someone else ) for purposes other than the problem at hand The different “things” we call secondary data 9 Company internal data Examples: Sales, finance, customer complaints, website traffic Relational databases Any data collected by outside agencies and organizations Government: census Trade association: industry statistics Marketing research organization: industry performance data; syndicated data Existing literature (Data ≠ Numbers) Previous marketing research studies on similar topics – Books Academic journal articles Newspaper articles – Blogs
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Why do we need so many different types of “data” in marketing research? 10 Marketing Research Problem‐Identification Research Market Potential, Market Share, Market Characteristics, Sales Analysis, Forecasting, Business Trends Segmentation, Product, Pricing, Promotion, Distribution Problem‐Solving Research help identify problems which are not necessarily apparent on the surface and yet exist help solve specific marketing problems More specifically, for the marketing research problems we encounter in this unit …
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