Research Methods in Data Collection

Primary vs. Secondary Data

• Primary data is first-hand information not found in existing literature or reports.
• Secondary data is second-hand information accessible through books, journals, reports, and online resources.

Research Approaches for Primary Data Collection

• Observational Research: Information gathered through observing market scenarios and interacting with customers regarding their purchasing experiences.
• Ethnographic Research: In-depth study of individuals in their natural environments to understand their lifestyles, consumption patterns, and needs.
• Focus Group Research: Group discussions (6-10 participants) led by a skilled moderator to explore specific topics and gather diverse perspectives.
• Survey Research: Descriptive studies collecting customer insights on product knowledge, preferences, and satisfaction, commonly through questionnaires.
• Behavioral Data: Analysis of actual customer purchases which provides insight into buying behavior rather than relying solely on survey responses.
• Experimental Research: Designed to explore cause-and-effect relationships, examining how changes in product attributes affect customer behavior.

Sampling Plan

• Sampling Unit: Identifies which individuals or groups will be surveyed.
• Sample Size: Determines how many units will be included in the study.
• Sampling Procedure: Establishes methods for selecting respondents.

Contact Methods

• Respondents can be contacted through various channels: emails, telephone, in-person interactions, or online platforms.

Steps in Research Process

• Collect Information: This phase is resource-intensive and may involve challenges such as biased responses from participants.
• Analyze Information: Organizing collected data using statistical techniques; includes computing averages and measures of dispersion.
• Present Findings: Summarizing research outcomes to higher management (e.g., CEO, board of directors) for decision-making.
• Make Decisions: Management must decide whether to implement findings or disregard them based on suitability.

Marketing Information System (MIS)

• MIS is an organized system for collecting, analyzing, and disseminating market information from internal and external sources for better marketing decisions.
• Supports marketing operations including pricing, product development, and promotions.

Characteristics of Marketing Information System

• Computer-Based: Utilizes technology to gather and analyze data efficiently.
• Quick and Accurate Information: Facilitates immediate access to relevant marketing databases.
• Easy Accessibility: Information can be easily accessed and utilized through computer systems.
• Interrelated Components: Involves elements like internal reporting, marketing research, marketing intelligence, and decision support systems.
• Future-Oriented: Aids in strategic planning for upcoming marketing initiatives.
• Supports Decision Making: Provides accurate databases for informed decision-making.
• Consistent Information: Delivers reliable and updated marketing data applicable across all management levels.

Components of Marketing Information System

• Internal Reporting System: Gathers information from internal records such as sales data, customer databases, and invoices to inform marketing strategies.
• Marketing Intelligence System: Provides insights into market trends, competitor strategies, and customer preferences; important for adapting to changes in the environment.

Improvement Strategies for Marketing Intelligence System

• Training sales forces to monitor market trends and provide feedback.
• Engaging channel partners for relevant market and competition insights.
• Conducting competitor analysis through product purchases and literature review.
• Involving loyal customers for direct feedback and insights.
• Utilizing government demographic data for strategic planning.
• Purchasing market research insights from research firms.

Marketing Research

• Involves systematic collection and analysis of primary and secondary data to address marketing challenges.
• Contributes valuable data to the marketing information system, allowing for tests and validations of market assumptions.

Marketing Information System Process

• Select relevant topics for applying the MIS based on costs and needs.
• Collect necessary data from both internal and external sources.
• Organize and graphically represent data for analysis.
• Communicate findings across departments for interpretation and decision-making.
• Decide on the best actions to enhance marketing results based on analyzed data.

Explore the differences between primary and secondary data sources in this quiz. Understand the various research approaches for collecting data and the importance of each type. Test your knowledge on how these data types are used in research methodologies.