Chapter 6 Conducting Secondary Research Types of Data

Chapter 6 Conducting Secondary Research

Types of Data • Secondary – Already collected – Less costly – Use before collecting primary • Primary – Collected directly from research participants

Why use secondary data? • Keeps total research costs down • May provide needed answers? • Helps in the design of primary methodology

Secondary Data Requirements • Relevant – must address the issue • Credible – source is respected • Timely – date it was collected is acceptable • Accurate – data are correct • Affordable – if not free, at an acceptable price

Uses of Secondary Data • External environment – Social, legal, economic, technological • Industry – Consumption trends, competitors • Consumer – Current segment preferences, potential segments to target

Sources of Quantitative External Data • • Academic researchers Trade associations Government offices or agencies Marketing research firms

Sources of Qualitative External Data • Popular magazines • Business and trade publications • Websites

Steps in the Process • Conduct internal secondary research – Internal data – Company personnel • Conduct external secondary research – Quantitative sources – Qualitative sources

Online Search Strategy • Decide the source of information • Identify key terms • Modify key terms – Broaden – Limit • Analyze the acceptability of the source • Document source