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Essay: The Advantages of Using Secondary Data in Market Research

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  • Published: 1 February 2018*
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  • Words: 936 (approx)
  • Number of pages: 4 (approx)

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Programmatic research is conducted to develop marketing options through market segmentation, and studies of how the consumer feels and uses the products. In the case of a restaurant chain we know that what is like in some regions, is not necessarily the best option for others. For example, McDonald is a well-known fast food restaurant in the world. As they open new restaurants they should make sure that their product will be well received and are of the tradition and liking of the community. When we think of McDonald in America we usually have an image of hamburgers, coffee and fresh fried, however, in Asia they serve green tea, McRise. The programmatic research would help in the transitioning of the company from one product to the other. It will allow the company y what products will be well received and will be must consumed.

In an exploratory level, I will be talking to various executives in the company to see what is their idea of how the agency’s performance, and where they would like for it to be. I would be doing this to get an idea of what it is expected out of me exactly. At a descriptive level, I will be conducting a survey that will integrate participants who have never donated, but most importantly people who donated before and for some reason they stopped. I will have open- ended and close ended questions to get a better understanding of why the donations have gone down.

Secondary data has a lot of advantages if used properly. Some of this advantages include, it is a helpful source for primary data collection making it more specific. It will also help with the understanding of the problem; it will provide a basis of comparison.  It also has some advantages over primary data, one of them being time saving. Since the research was previously done the only time spent is reviewing that the sources and data are relevant to the research being completed. This also makes it economical, by saving efforts and expenses to the company.

My reaction to the survey would be a positive one. I think whenever someone is deciding in investing money into any kind of business they should do research to have an idea and a basis if the business would be successful or not. Considering that he will be opening a new business, a quantitative research would be the best option. They are expensive and as his consultant I would advise him of it. However, with this type of research we could ask exactly what he wants to know. Making sure that we select the correct sample with in the community.

1. Faster; when a survey is done online the time spent between the survey is sent out and process is much faster than if it was done the traditional way. Online surveys are processed automatically, making it faster than having to wait for paper questionnaires to come back.

2. Cheaper; using online reduces the expense on postage and personnel resources, who would have to employ time in entering the information into a database and then recording the results.

3. Better to analyze; since the results will be automatically reviewed and entered in the database they are easier to analyze and interpret. They are also available at any time that the research needs them.

4. Convenient; online surveys are not only better for the researcher but extremely convenient for the participant. They receive an email and can access it anywhere they are. Contrary to traditional surveys where they would have to go home and then send it back.

5. Accurate; the survey results will be entered automatically into the system lowering the margin of error. Since humans make mistakes the margin of error when entering the result could be higher than when done by a machine.

Given your last visit, please tell us how convenient was for you to find a parking spot in our facilities?

Very Somewhat Neutral Somewhat Very

Inconvenient Inconvenient Convenient Convenient

B) Quality of Food

Given your last visit, what is your satisfaction with the quality of our food?

Very Somewhat Neutral Somewhat Very

Unsatisfied Unsatisfied Satisfied Satisfied

C) Satisfaction with server service

Given your last visit, Was the server attentive and available when you needed him/her?

YES NO N/A

D) Price of food

Given your last visit, please rate your visit on value for the money.

Poor Bellow Average Good Excellent

Average

Assuming you are purchasing a car; How likely are you to purchase a Toyota Scion, if the price were to be a reasonable amount for you?

Rate from 1-5. 1 being the least and 5 being the most.

Likeliness

1

2

3

4

5

Open- ended questions require the reading and interpretation of either a person or a computer software. They also require more time from the participant who must write either a sentence or paragraph to answer the question. Contrary to close ended questions they cannot be pre-coded. For instance, if the researcher were to use a computer software, they would have to prepare it with pre-coded words, allowing the system to look for those words as soon as the questionnaires are entered.  

There are several ways on how marketing research can help a company to turn their customer into brand- loyal customers. One of the ways is by having customer satisfaction research which would allow the company to see what they can improve to make sure that those costumers come back and stay. The company should use this as an advantage to make sure that they are doing everything possible to satisfy their costumer guaranteeing that they come back for their favorite product.

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