Sources of data collection

Chapter 3Chapter 3Sources and Collection of Market Information

Chapter 3 Sources and Collection of Market Information Marketing Research

Learning ObjectivesLearning Objectives1. The importance of collecting

accurate information2. Define the type of information sought

and understand the sources of gathering it

3. Understand the importance of research in international marketing

4. The role of business ethics in global marketing research


Prerequisites of Collecting Prerequisites of Collecting Accurate DataAccurate Data

For making decisions to be effective, it is necessary that the research be more focused and restricted to the crucial information which is being sought.To survive in the competitive environment, companies and marketers have to conceive a brand idea and communicate that brand so as to capture the consumer attention


Range of Research Data and Range of Research Data and Sources of Collecting ThemSources of Collecting Them

The most sought out information can be categorized into quantitative and qualitative type of information (range of research data). Quantitative research is concerned with the measurement of a market in terms of market size, the size of market segments, market size in terms of brand, purchase frequency, distribution network size etc.


So as to ensure that a certain level of accuracy is achieved, the quantitative information is almost always based on extrapolating from a sample to the general populationQuantitative and qualitative information is complementary and a particular marketing decision may require both types of information


The Main Options Available The Main Options Available While Planning a Suitable While Planning a Suitable Research DesignResearch Design


Secondary Information Secondary Information SourcesSources

Secondary information is usually collected by persons(before) and very often for purposes other than the problem at hand.If a fan manufacturer is, for example, requiring information on the potential marketGenerally secondary information is sought for prior to the decision taken to organize collection of information from primary sources


Few of the reasons cited for going for a secondary information search are:◦ At times sufficient information is available

to solve the problem◦ Secondary information search involves

less time and cost as compared to primary data collection◦ Provides the base (defining problem and

developing hypothesis or defining population) before the onset of primary research


Communicating or Observing Communicating or Observing RespondentsRespondents

In the literal sense, Respondent refers to a person who responds and answers. While using respondent as a part of research, it will be useful to include both verbal and behavioral response of the person under study. Survey is one of the Survey is one of the widely used methods for obtaining Marketing Information, by communicating with respondents.Chapter 3 Sources and Collection of Market Information Marketing Research

Sources From Where Marketing Sources From Where Marketing Information is CollectedInformation is Collected


ExperimentsExperimentsThe experiments can be carried out in natural conditions or controlled surroundingsUnder a natural experiment, the researcher will intervene only to the extent required for measurement The researcher uses the same methodology as if a control group is desired. For instance, say the researcher is trying to understand the attitude of TV viewers to an advertisement of Coco-cola


SimulationSimulationSimulation is defined as a set of techniques for manipulating a model of some real-world process for the purpose of finding numerical solutions that are useful in the real process that is being modeled.Simulation provides information from the imitation of the particular marketing situation. This method involves less money and time as a source of information compared to field experiments


Likely Errors to Affect the Likely Errors to Affect the Research ProcessResearch Process1. Inappropriate population

specification2. Sampling errors3. Inappropriate sample selection4. Sample frame5. Non-response6. Substitute information7. Measure mental error8. Experimental error


Role of Research in Global Role of Research in Global MarketingMarketing

Legal and political environmentCultural differences or cultural diversityEconomic environmentLinguistic barriersNature and availability of marketing infrastructureTrade restrictions and differences in trade practicesHigh distribution costs due to long distances


Some of The Important Some of The Important International Marketing Research International Marketing Research IssuesIssues


International Marketing Research International Marketing Research and Business Ethicsand Business Ethics

Most of the MNCs in the world have developed systematic, sophisticated ongoing methods and systems for gathering Marketing Information related to the products, markets and competitionEthical issues in business also may create problems in international businessThere is no ‘ready material’ to identify the do’s and don’ts of business violations in the various countriesChapter 3 Sources and Collection of Market Information Marketing Research

SummarySummaryIt is vital to have accurate market informationMarketing information are categorized into quantitative and qualitative research dataThere is a need to understand various problems of international marekting.


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Sources of data collection

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