Secondary Data in Marketing
Research
External market data – trend analysis,
competitive information, industry
trends and leaders
External Customer data – current
customers, new customers, need
analysis, customer knowledge level
External data is usually secondary so
limits are necessary
6 Principles of Secondary Data
1. Purpose
2. Accuracy
3. Consistency
4. Credibility
5. Methodology
6. Bias
Careful evaluation of data leads to solid
reports and high credibility of your
report
Internal Secondary Data
Common sources of internal data
- sales invoices, accounts receivable
reports, quarterly reports, sales activity
reports, customer complaints and
compliments
Internal data although secondary is
valuable because it is from your sales
and your customers
It is the best place to start
Planning for External Data
GO-CART
G – goals matching your search
O – objectives – get as much secondary data
as possible for a good selection
C – Characteristics - list your topics to
search to prevent getting side tracked
A – Activities – Where will you search
R – Reliability – back up your data with more
than one source
T - Tabulation – document all information
collected
Variables in your search
Demographics
Employment characteristics
Economic data
Competitive Characteristics
Supply Characteristics
Regulations
International market characteristics
Research Proposal
How to write a
research proposal
Research
Research proposals take two forms
1. A marketing problem
2. A marketing opportunity
A formal research proposal allows
the researcher the opportunity to
make sure that the research will
provide the answer to the decision
maker’s problem
Marketing Problem
Brief description of general problem
Show situation at the current time
State goals, objectives and justification
What question will be answer
Address possible limitations
Secondary data that will be sought
Primary data you plan to collect
Describe the sample size,
questionnaire
Time and personnel needed
Costs for the study
Marketing Opportunity
Describe the general opportunity
Show situation at the current time / future
State goals, objectives and justification
What opportunity do you seek to answer
Address possible limitations
Secondary data that will be sought
Primary data you plan to collect
Describe the sample size, questionnaire
Time and personnel needed
Costs for the study
Structure of Research Proposal
Executive summary – most important part
since it is an overview of the proposal
Problem Statement – What is the problem,
the background, consequences, and the
management question
- state it clearly
- only one problem not multiple issues
Research Objectives – Purpose of the
investigation
- this is the research question
- it should stand out clearly from the text
Method and Design
- what methods will you use in your
study, data sources, studies to be
conducted, qualifications of
researcher if deemed necessary
Estimated Project Budget – usually
covers wages, overhead costs, total
fees, payment terms if necessary
Schedule – time lines, major phases
given, people required
Project Management Team- who will be
doing the project and responsibilities
Bibliography – show that it will be
included for their reference use
Appendices – usually includes a
glossary, the measurement instrument
and any other material you deem
necessary
Proposal should be done quickly to
show the client your interest in the
project.