Transcript 3220Lecture4Chapter3

Marketing Research
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Information that has already been
collected for another purpose.
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Internal
◦ Collected within your firm
◦ Sales, personnel turnover, profit record, etc.
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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
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Quick
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Easy access
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Free or relatively inexpensive
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Avoid “reinventing the wheel”
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Not exactly what you need
◦ e.g. income per household instead of per person
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May be old
◦ Takes time to get collected and posted
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Difficult to assess quality
◦ Poorly gathered research worse than none at all
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Definitions/constructs may vary
◦ E.g. categories of charitable donations
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Fact finding
◦ Demographics, product use, trend analysis,
market tracking, environmental scanning
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Model building
◦ Relationships between variables
◦ Market potential, sales forecasts
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Data mining
◦ Computer driven analysis of large databases
seeking meaningful patterns
◦ Market basket analysis, sequence analysis
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What was the purpose of the study?
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Who collected the data?
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What data were collected?
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How?
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Does it fit with other findings?
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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
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Assess consumer attitudes
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Define markets
◦ Geodemographics (geog + demog + psych)
◦ Grouping consumers (Goldfarb; VALS2)
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Track market variables
◦ Store scanner data
◦ Home diaries, scanners
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Monitor media use/effectiveness
◦ Nielsen, Arbitron, Roper Starch, Simmons
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Single source data
◦ Media + purchases
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SecondaryData.com
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LexisNexis:
◦ subscription-based
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Proquest: access from library homepage
◦ variety of databases including ABI Inform
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Statistics Canada:
◦ http://www.statcan.ca/
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Online forums, reviews, etc.
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People post reviews for others to see
◦ Amazon.com (or .ca)
◦ tripadvisor.com
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A researcher can simply “tap into” that
◦ e.g., Online restaurant reviews
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