Secondary Sources of Information

1. Discuss the concept of a marketing information system and why it is important for marketing managers to be involved in planning the system. A marketing information system is a management information system designed to support marketing decision making. Trend in the marketing environment are picked up and analyzed through four subsystems making up the marketing information systems the internal accounting systems, marketing intelligence system, marketing research systems, and analytical systems. The information flows to marketing managers to help

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

Secondary data using existing data, as related to new data that is being gathered or have been recently gathered. Information already exist on the topics that are being studied. In quantitative approaches, it is this knowledge that assists one with finding the hypothesis to be examined in the new research. It opens the door for the researcher to further explore and generate new questions for the study. This also allows the researcher to find gaps in the research process. Secondary data sources can be acquired via the

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Just like most of the research, there are two types of data in our project, the primary data, and the secondary data.

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

Following a primary source, it is important to use a secondary source as well as it comments on the content of the primary sources used. A secondary source is an analysis of the document used that happens on a later date. Some secondary sources would be newspaper articles, book reviews, and articles published in a scholarly journal that critics someone’s research. When using a secondary source in a science paper, look for articles that summarize

In this composition the multiple-source secondary data can be found in the form of books, government publications and articles

Secondary research on the other hand involves the comments written about a primary source; including interpretations, discussions or other studies by other researchers. The researcher does not have access to the primary source used in secondary research and relies solely on information interpreted or analyzed by another person. For example, if an interview is being conducted and the researcher records informant comments, the researcher is using primary research. But if someone else tells the researcher what the interviewer has said, secondary research is being used. Examples of secondary research or secondary sources include; articles, scientific journals, essays or academic books.

Data is one of the most vital things to statistics and research information. While there are two types of data that a person might find during the research process; they are primary data and secondary data. Data can come from different sources during the research process. Primary data is any information received on a firsthand basis. An example of this would be if a researcher did an interview on a test subject the information received from the subject is primary data. Primary data is also data received while completing experiments and testing. Primary data is a better type of data to use in statistics because the researcher knows that data is more accurate. Secondary data is any type of data that a researcher gets from another source than themselves. The researcher does not know how the data was originally analysis so secondary data might not be as accurate and complete as primary data is. When using statistics to come to a conclusion about the research completed, it is best to use primary data instead of secondary data.

Primary and secondary sources are ways in which data can be retrieved. As Serakan (2006) stated, “Primary data refer to information obtained by the researcher on the variables of interest for the specific purpose of the study”. Various evidence suggesting to what methods of primary research can be conducted and which are most effective for the previously mentioned problem description are stated in this chapter.

Secondary marketing research is based on information previously gathered by an individual, the government, and other agencies. “Secondary sources are those sources of information that have been collected previously by other individuals or organizations. Secondary sources of information can help you to identify other sources of information, it can help you to get an overall picture of your market or it may provide more detailed information on a specific segment of the market” (Karen Paiyo). There are also various research tools used when conducting secondary research. Secondary research can be acquired from previous reports, public sources, newspapers, magazines, commercials, educational sources, and websites. Secondary research is often easy to find and generally free. It is much more inexpensive than primary research. An example of secondary research is a general manager, of a professional baseball team, gathering a summation of statistical information (of a player whose contract is expiring) from previous

When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.

Marketing information system is applied in Tesco. The marketing information system applied in Tesco is due to the people, products and program to collect, tidy up, analyses, assess and distribute needed, timely and exactly information to marketing decision markets. As a biggest supermarket chain, Tesco is necessary to have a good information system about its own business, client, provider, competitor, marketing agency and market, economic and business information to continue its manage over The Tesco in United Kingdom retail chain or to remain competitive in an information technology driven global economy. Tesco is developing a marketing information system that can be used as inclusive source of information for market research