MKT 360 Lecture Notes - Lecture 27: U.S. Customs And Border Protection, North American Industry Classification System, Secondary Source

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14 Nov 2016
Department
Course
Professor
FORMAL MARKET RESEARCH continued
Oct 17
Step 2: developing the research plan
Determine costs and make decisions on:
o Data sources: secondary or primary
o Research approaches
Observation
Focus groups
Survey or experiment
o Research instruments
Questionnaire
Mechanical instruments
Cost benefit analysis
o What do you do after cost analysis?
o Developing the research plan
Step 3: collecting the information
Use secondary sources first
Use primary research if deemed essential
If you find a secondary source that completely answers your research question, then use
that!
Primary research: info that has never been gathered for your specific purposes
Step 4: analyzing the information
Tabulation of the data
Frequency distributions, averages, cross-tabulations, measures of dispersion, etc.
Step 5: presenting the findings
Was the hypothesis proved or not?
GLOBAL RESEARCH ISSUES
Lack of reliable secondary data
Costs and complexity of collecting primary data
o Travel to different countries
o Talk to them in different languages
o Areas where they might not have telephones
Difficulty of establishing comparability and equivalency
Problems with secondary data
1. Lack of data
Much less data available in foreign countries than in the US
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