RESEARCH STRATEGIES
In order to find the right information, you must start with defining a research problem. First, determine whether you are researching companies, or industries and products, or management theory and practice, or the general business climate. Each of these categories has particular
business information tools. For company research, there are directories and annual reports; for industry research, there are industry overviews and statistics; for management practice, there are handbooks and “best practice” guidelines; and for the general business climate, there are economic reports from government and commercial analysts.
Second, determine whether specific or comparative information is needed: do you need to find out about the marketing strategy of one particular company, or retrieve a ranked list of several apparel manufacturers? The next useful question is whether quantitative or narrative information is needed: for example, do you need statistical data showing sales revenue in the retail apparel industry or do you need an analysis of retailing technologies? Next, determine the time frame required. Are you seeking current information, or does the project require historical trend data? Do you also require projections and future forecasts?
You will also need to consider whether you require primary or secondary information. Primary information is information collected and generated directly, and might include personal telephone calls to experts or compiling a spreadsheet report of a company’s sales. Secondary information is that which you gather from existing sources, such as company memos or commercial publishers.
In Business Information: How to Find It, How to Use It, Michael Lavin (1992, 5) provides a useful matrix that distinguishes between internal or external and primary or secondary information. Lavin points out that secondary information is generally easier to acquire and less costly than primary data. In particular, understanding how to research and “mine” external secondary information is an often overlooked tool for business success. After you have analyzed your business problem, and have determined whether you need comparative or specific information, narrative or quantitative, historical, current, or future data, you are ready to start
looking for the right information.
Using this book, review the discussion of the sources in each topic to find the type of information that meets your criteria. In addition, it is important not to overlook the general sources that do not focus on any one particular aspect of marketing, which are discussed in this chapter. Although these general sources might seem to be unfocused, they actually contain information about many different topics. Many of them will contain just the right nugget for your particular information need, but that can only be recognized at the moment that you need it. The last crucial step in your research strategy is evaluating and critically assessing the information you have found for its currency, accuracy, and usefulness. This has always been true, but the Internet requires
a slightly different set of criteria because anyone can publish anything on the Web. Without the usual controls and review processes of commercial or academic publication, the user must consciously consider some essential questions in order to determine the authority and reliability
of the information, especially if it is to be used for decision making purposes. Is there a named author or producer? What is the primary purpose of the Web site–to sell or promote, to educate, or to advocate? Does the purpose alter the objectivity of the information provided? Is there a date of creation or revision? Can you ascertain whether the information is current or out-of-date? Is there a bibliography or list of sources cited where information can be verified and leads followed? Finally, is the Web site organized well with few typographical errors?
In order to find the right information, you must start with defining a research problem. First, determine whether you are researching companies, or industries and products, or management theory and practice, or the general business climate. Each of these categories has particular
business information tools. For company research, there are directories and annual reports; for industry research, there are industry overviews and statistics; for management practice, there are handbooks and “best practice” guidelines; and for the general business climate, there are economic reports from government and commercial analysts.
Second, determine whether specific or comparative information is needed: do you need to find out about the marketing strategy of one particular company, or retrieve a ranked list of several apparel manufacturers? The next useful question is whether quantitative or narrative information is needed: for example, do you need statistical data showing sales revenue in the retail apparel industry or do you need an analysis of retailing technologies? Next, determine the time frame required. Are you seeking current information, or does the project require historical trend data? Do you also require projections and future forecasts?
You will also need to consider whether you require primary or secondary information. Primary information is information collected and generated directly, and might include personal telephone calls to experts or compiling a spreadsheet report of a company’s sales. Secondary information is that which you gather from existing sources, such as company memos or commercial publishers.
In Business Information: How to Find It, How to Use It, Michael Lavin (1992, 5) provides a useful matrix that distinguishes between internal or external and primary or secondary information. Lavin points out that secondary information is generally easier to acquire and less costly than primary data. In particular, understanding how to research and “mine” external secondary information is an often overlooked tool for business success. After you have analyzed your business problem, and have determined whether you need comparative or specific information, narrative or quantitative, historical, current, or future data, you are ready to start
looking for the right information.
Using this book, review the discussion of the sources in each topic to find the type of information that meets your criteria. In addition, it is important not to overlook the general sources that do not focus on any one particular aspect of marketing, which are discussed in this chapter. Although these general sources might seem to be unfocused, they actually contain information about many different topics. Many of them will contain just the right nugget for your particular information need, but that can only be recognized at the moment that you need it. The last crucial step in your research strategy is evaluating and critically assessing the information you have found for its currency, accuracy, and usefulness. This has always been true, but the Internet requires
a slightly different set of criteria because anyone can publish anything on the Web. Without the usual controls and review processes of commercial or academic publication, the user must consciously consider some essential questions in order to determine the authority and reliability
of the information, especially if it is to be used for decision making purposes. Is there a named author or producer? What is the primary purpose of the Web site–to sell or promote, to educate, or to advocate? Does the purpose alter the objectivity of the information provided? Is there a date of creation or revision? Can you ascertain whether the information is current or out-of-date? Is there a bibliography or list of sources cited where information can be verified and leads followed? Finally, is the Web site organized well with few typographical errors?
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