Chapter 4 outline

Chapter 4 outline - M GM403 Chapter 4 SECONDARY DATA &...

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MGM403 Chapter 4 I) Nature of Secondary Data - Secondary data consists of information that has already been gathered & might be relevant to the problem at hand - Primary data are survey, observation, & experiment data collected to solve the particular problem under investigation - Secondary data can be a cost-effective & efficient means of obtaining information for marketing research. - There are 2 basic sources of secondary data: the company itself (internal databases) A) Advantages of Secondary Data 1. Secondary data may help to clarify or redefine the problem during the exploratory research process. 2. Secondary data may actually provide a solution to the problem. a. There is always the possibility that someone else has addressed the identical problem or a very similar one. 3. Secondary data may provide primary data research method alternatives. 4. Secondary data may alert the marketing researcher to potential problems 5. Secondary data may provide necessary background information & build credibility for research paper. a. Sometimes background data can satisfy some of the research objectives eliminating the need to ask certain questions. 6. Secondary data may provide the sample frame. B) Limitations of Secondary Data 1. Lack of Availability 2. Lack of Relevance
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3. Inaccuracy a) Who gathered the data? b) What was the purpose of the study? c) What information was collected? d) When was the information collected? e) How was the information collected? f) Is the information consistent with other information? 4. Insufficiency II) Internal Databases - An internal database is simply a collection of related information developed from data within the organization. A) Creating an Internal Database
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This note was uploaded on 08/30/2011 for the course MGM 403 taught by Professor Trivedi during the Spring '11 term at SUNY Buffalo.

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Chapter 4 outline - M GM403 Chapter 4 SECONDARY DATA &...

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