SECONDARY DATA & SURVEY

Advantages and Disadvantages of Secondary Data:
Secondary data is often the most convenient and cost-effective option when doing marketing research. according to study.com 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.
The primary advantage of secondary data is their availability. Obtaining secondary data is almost always faster and less expensive than acquiring primary data. This is particularly true when researchers use electronic retrieval to access data stored digitally. In many situations, collecting secondary data is instantaneous. (Essentials of Marketing Research, 4e, 122).
An inherent disadvantage of secondary data is that they were not designed specifically to meet the researchers' needs. Thus, researchers must ask how pertinent are the data to their particular project. The most common reasons why secondary data do not adequately satisfy research needs are (1) outdated information, (2) variation in definition of terms, (3) different units of measurement, and (4) lack of information to verify the data's accuracy. (Essentials of Marketing Research, 4e,123,124).

Survey:
 According to Essentials of Marketing Research, a survey is defined as a method of collecting primary data based on communication with a representative sample of individuals. Surveys provide a snapshot at a given point in time.
 Typically, surveys attempt to describe what is happening, what people believe, what they are like or to learn the reasons for a particular marketing activity. Demographic information and information on media exposure might also be collected in the survey to help plan a market segmentation strategy (Essentials of Marketing Research, 4e, 147)

Survey Questions for Marketing Research

1. Are you Male Female___________
 *2. What is your age?
     20___-24__  25-30____
 *3. How often do you purchase perfume?
      Once every 3 months___ Twice a year Once a year____
 4. What is the most amount of money you are willing to pay for your perfume?
     $40__ $55__ $75 __$90.__
5-What factors do you look for when purchasing perfume?
 (Check all that apply) I do not use perfume._______
 Scent ___
 Price _____
 Design_____
Brand loyalty_____
6- Where do you shop for perfumes?_______________
7. What is your favorite flower smell?________________
8. Do you prefer a celebrity perfume over other brand? yes__ No___
9. What is your favorite color?__________
10. Are you concerned for the environment? yes____  No_________

My expectations on principles of marketing research class

According to the Small Business Encyclopedia, Market Research is: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face .
Before I started school at the Art Institute of Las Vegas I just wanted to have my own business. I was not sure exactly what kind of business but I knew it had to be related to fashion. Well, I am happy I decided to attend school before I venture into the small business owner world, because I learned a lot about what it takes to run a business. Market research is a big component of any successful business.
"Market research is important for every business, and should not be just a one-off activity. Successful business conduct research on a continual basis to keep up with market trends and to maintain a competitive edge..market research is vital to understanding your target market and increasing sales"(smallbusiness.aw.gov)
Since my goal after graduation is to become a business owner, I expect to learn more about market research and to take all these knowledge and integrate it into my business.