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Sources of Marketing Research: (A) Internal, (B) External Sources of Marketing Research

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Now it is company policy that any research request has to include proof that the library has already been searched and found lacking-before any new can be conducted! While this knowledge is stored in individuals' minds rather than on paper or computer disk, it can be as valid and valuable as more formal sources. Had the marketing manager quickly asked the most obvious internal experts-members of the sales force-to explain the sales decline, work on a competitive new product could have begun almost a year earlier.

In addition to the sales force, companies have discovered that marketing research personnel, technical representatives, advertising agency personnel, product managers, and public relations personnel often have expert knowledge of relevance to marketing problems. Email us your resume on careers managementparadise. To view links or images in signatures your post count must be 0 or greater.

You currently have 0 posts. Internal Sources of Secondary Data. Internal sources of data entry is very much important and easy to get. If you internal data precisely then it won't be difficult for you to generate hypothesis and carry on the further process. The main important function of having internal data is that it saves your time and resources. Internal data entry is already maintained you just have arranged it in a synchronized and systematic structure.

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Just another hype Is Information Management. Lecture - 25 Data Structures for Graphs. BB code is On. The posters and only posters shall be liable for any copyright infringement. Find All Thanked Posts. Discuss about leading banks and insurance companies. Banking and Insurance Final marks projects. They have a direct link with the consumers understand tastes, preferences and buying habits of the consumers.

The marketing manager may direct the salesmen to prepare periodical reports containing the information collected by them. The information collected in this manner is original and more meaningful. This will further enhance the morale of salesmen as they feel that they are contributing towards the formulation of marketing policies of the organisation.

But sometimes information provided by salesmen is not accurate and upto the mark. The salesmen are not properly trained and do not know the methodology to collect the information properly. This is another source of collecting primary data.

Valuable information can be collected with regard to demand of the product from retailers. Information about the marketing policies of competitors can also be gathered from the dealers.

It has been observed that sometimes this method does not prove to be fruitful as dealers do not keep proper records and they do not want to waste their time in supplying information. This source of collecting primary data is of great importance.

Representative samples of consumers may be selected for conducting thorough investigation with regard to price, quality and use of the product. This method of collection data is very reliable as it establishes direct link between producer and the consumer. Secondary data is already existing which has been collected and published by some individuals or institutions. This data is available at a very low cost and it requires lesser time to collect it.

Business magazines and journals published periodically contain data which is very useful for marketing research; Newspapers such as Economic Times and Financial Express also contain data regarding business trends and market reports. There are innumerable publications brought by Central and State Govts, which contain valuable data for conducting marketing research.

Census reports of the Government of India, Publications of Planning Commission; periodical publication such as Indian Review, various markets bulletins. Various trade associations like Chambers of Commerce, Export Promotion Council etc, publish useful data which is of immense help to the res warmer.

This is another useful source of supplying secondary data. Market surveys and reports are important instruments in the hands of researcher for conducting marketing research. These are published by business houses or independent research organisations. These pertain to specific lines of products.

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Secondary data is information that has been collected for a purpose other than your current research project but has some relevance and utility for your research. Sources of Secondary Data. You can break the sources of secondary data into internal sources and external sources.

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Secondary marketing research uses data that already exists and has been collected by someone else for another purpose. Sources of secondary data can come from within the firm itself – this is known as internal secondary data.

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ADVERTISEMENTS: There are two sources of information from where data for marketing research can be obtained. (A) Internal Sources: These refer to the sources of information within the organisation. In certain cases internal sources are indispensable without which the researcher cannot obtain desired results. Also, the research firm would use statistical models to come up with a sample group that is representative of your target audiences, making it very relevant to your business .

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Secondary research is research already published, and is the cheapest form of research because the data already exists for your acquisition. Secondary research can be split into internal and external research. Jun 06,  · Internal Sources of Secondary Data Internal sources can be classified into four broad categories: • accounting records • sales force reports • miscellaneous records • internal experts Accounting Records. The basis for accounting records concerned with sales is the sales invoice.