← Lessons 07-Marketing Strategies and Principles

7. SECONDARY DATA

  • Secondary data is information that already exists and only needs to be accessed, extracted and put into a usable form.
  • It can come from inside or outside the business.
  • Research using secondary data is often called ‘desk research’ or a ‘non-reactive survey’.

7.1 INTERNAL SOURCES

  • Key internal sources concerning actual and potential customers include:
  • Sales records
  • Sales staff reports
  • Responses to advertisements
  • Customer information should be recorded logically, whether on written records, card indexes or a computer database.
  • Important customer information to record includes:
  • Organisation name
  • Address
  • Contact person’s name
  • Contact person’s position
  • Phone/fax/email details
  • Details of the customer’s business
  • Products/services purchased or of interest
  • Details of products/services sold, including dates and volumes
  • Notes of letters, brochures or quotations sent
  • When enquiries result from advertising, record the publication where the respondent saw the advertisement.
  • This helps assess advertising effectiveness and avoid wasting advertising budget on publications that do not generate useful sales leads.

7.2 EXTERNAL SOURCES

  • Potential external sources include:
  • Government statistics
  • Local authority statistics and plans
  • Trade associations
  • National/local press and specialist trade magazines
  • University studies
  • Research organisation studies
  • Trade directories
  • Company reports
  • The internet
  • A major challenge is limiting research to sources that provide relevant information while avoiding unnecessary information.
  • Secondary data is particularly useful for understanding the wider market picture.
  • Example: national/regional statistics can estimate market size; trade directories can identify manufacturers; company reports can provide information about trade volumes and future plans.