buad 307 secondary sources lars perner, ph.d., instructor 1 secondary market research finding...

BUAD 307 SECONDARY SOURCES Lars Perner, Ph.D., Instructor 1

SECONDARY MARKET RESEARCH

FINDING INFORMATION ABOUT CONSUMERS, FIRMS, INDUSTRIES, AND ENVIRONMENT


Market Research• Two types of market research

– Secondary: Use of existing information compiled by someone else or generated from internal records (e.g., billing statements, shipping records)

– Primary research: Research performed expressly to obtain information on customers and markets (e.g., surveys, experiments, focus groups)

• Secondary sources may not have sufficiently current and/or specific information. However, when these sources are available:– Costs are usually much lower– Information can be accessed much

quickly


Some sources of secondary data:• Internal records/information system• Trade journals, magazines, and newspapers

– Each industry usually has one or more trade journals—publications dealing with issues specific to this industry (e.g., Women’s Wear Daily, Air Cargo World, Ice Cream Reporter)

– General business publications—e.g., Wall Street Journal, Business Week, Financial Times

– General newspapers and magazines may address relevant issues

– Reviews in consumer magazines of relevant product categories

• Government documents• Compilations/reports (e.g., Economist

Intelligence Unit reports on specific countries)

• Other data bases (e.g., Hoover’s, Business & Company Resource Center)


Logging into the Crocker Library Database System, Part 1


Industry Information: NAICS codes• Taxonomy of North

American industry structure• Technically only for U.S.,

Canada, and Mexico but used internationally

• Hierarchical structure—the more digits, the more specific the industry

• Each six digit code may still cover a very wide range of products/services


Hierarchical Structure of NAICS Codes


Wide Span of Each NAICS Code


Finding NAICS codes on the U.S. Census Bureau Web Site

This site is usually the first one that will show up if you Google the term “NAICS.”


NAICS Search Results


Industry Information: Business Insights: Essentials


Industry Info on Business Insights: Essentials


Industry Reports


Firm Listings: Business Insights: Essentials


McDonald’s


Subsidiaries


Profile: McDonald’s (U.S.)


Related Industry Reports


ABI/Inform: Periodical Search for Articles


Boolean Logic


AND: Both conditions have to be true

ICE CREAM AND CARBOHYDRATE


OR: One or both conditions must be true

DESSERT OR SNACK


AND NOT: The first but NOT the second condition must be true

PRICING AND NOT FINANCE


The Search Form

Note: In specifying searches, less is often more. You should avoid extraneous words that may have synonyms.


Other Search Types• Location (country or region)• Product name (but not company name)• NAICS code (see below)• Person name (e.g., the name of a company

CEO)


Search Results


Subject Terms


“Snow Balling:” Using article records to find additional relevant articles


Lexis-Nexis Academic: Another Periodical Database


Searching in Lexis-Nexis


Specifying a Lexis-Nexis Search


Google News


WARC: Marketing Statistics, Trends, Research, and Case Studies


MarketResearch.com: Reports on Industries and Substantive Topics


MarketResearch.com: Part II


Mintel: Market Share and Product Category Information


e-Marketer: E-Commerce Studies, Statistics, and Case Studies


Finding Books• The USC Libraries have the HOMER database of

books• However, Amazon.com may provide a more useful

list:– Collaborative filtering: Comparison to what others who

bought particular books bought– Expanded search algorithms to identify related topics

• In the second phase, HOMER can help retrieve those books we have in stock


Currency of Information

• Information on some topics becomes obsolete more quickly than others—e.g.,– China, Russia, India, Thailand– Internet, IT– Oil, airlines (highly cyclical)


Closing Words

• The only way to learn these searches is actual practice

• For many projects, you will need to search more broadly, possibly in related industries

buad 307 secondary sources lars perner, ph.d., instructor 1 secondary market research finding...

Documents

secondary sources lars

sources of secondary

groups secondary sources

essentials slide

environment slide

naics code slide

industry information

industry reports