BMGT 311: Assignment #2

Class:

Please post your comments here for assignment #2:

Topic: What are some good examples of using secondary research to solve a marketing problem?  What are some good resources.

Thought starters:

  • Social media could be a form of secondary research
  • Have you looked for articles on Google Scholar?  It is a great for resources

See you next week.

Chris Lovett

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6 thoughts on “BMGT 311: Assignment #2”

  1. You can use social media to get instant feedback. Let’s say you are a company who is bringing a new product on the market or making changes to an existing one, you can easily see what your customers say and how they are reacting to the new or improved item. Such as Facebook and how they make changes to their website all the time and almost everyone is talking about it saying they like it, or they wish they kept it like it was.

    http://blog.hubspot.com/blog/tabid/6307/bid/30898/7-Terrific-Ways-to-Use-Social-Media-for-Instant-Feedback.aspx

    A lot of companies use CRM (Customer Relationship Management). Which helps them to see what their customers are looking at, what they are buying or not buying. They also allow their customers to see similar products that may interest them. A company who uses this is Giant Eagle with their advantage card.

    http://www.loyaltycardsindia.com/HOME.html

  2. Secondary research can be used to help identify how much consumers are spending on certain products, which can help businesses identify products that would be beneficial to sell, vs products which might not sell as well. A good resource for this would be the Bureau of Labor statistics, which publishes consumer spending reports that show the amount Americans spend on certain categories of products, with a percentage comparison as to how much those numbers have changed over the past few years.
    http://www.bls.gov/cex/csxann10.pdf

  3. Secondary research can be very beneficial in marketing because it is cheaper to conduct secondary research and it is also less time consuming. Some examples of secondary research include public, commercial, educational, and social media sources (government agencies, facebook, and public libraries are included in this group). You can use secondary resources for many things – It is often used to enhance the primary resource and it can help you solve many issues such as trying to determine your competition, finding out what your customers like/don’t like, etc.

    A website that lists secondary research sites
    http://60secondmarketer.com/blog/2011/01/10/secondary-research-marketing/

    An article by the Huffington Post on Don’t Ask Don’t Tell
    http://www.huffingtonpost.com/2012/09/10/dont-ask-dont-tell-study_n_1868892.html

  4. In marketing, secondary research can be utilized to save the researcher time and money because the information has already been collected and the resources of the research are typically cheaper, or in some cases, free. An example of a secondary research resource is the SBA.gov tool called “SizeUp.” SizeUp is a free online tool that allows small business owners to compare their performance to others in their industry. In addition to providing users with performance comparisons, SizeUp also delivers information such as recommended advertising areas and geographic information of the marketplace for free.

    http://news.yahoo.com/sba-tool-helps-market-research-173400256.html

    http://www.sba.gov/sizeup

  5. A good example of using secondary research to solve a marketing problem would be when a company is struggling to reach out to a particular target audience, through their primary research, so they develop a secondary research method. The secondary research method could be something like obtaining information through government sponsored websites directed toward statistics, or maybe even the production of an internal customer/employee interaction-based survey (CRM tools).

    bls.gov

    sba.gov

    facebook.com

    http://www.crmbuyer.com/story/74561.html <<—- *informative article

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