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Marketing - Scales, Secondary Data and Demand

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1. How do market researchers utilize scales to establish quantifiable measures of subjective and abstract concepts? Discuss general types of scaling, such as uni-dimensional and multidimensional scales, nominal and ordinal scales, or interval and ratio scales and how they might be used to benefit your organization.

2. Under what circumstances would you choose to use secondary data in market research? Explain your answer. How would you use secondary data to segment your market? Would secondary market research add value to your company?

3. Bill Bennett has a background in computers. He is getting ready to open a business specializing in selling and installing computer systems for small and medium-sized businesses. Bill has hired a market research company to help him develop a marketing strategy for his new business. They want to measure the demand for Bill's service, and suggest an attitudinal study of small businesses toward the purchase of computer systems. Bill wants to know why he would care about attitudes since he is only interested in their behaviors. If you were the market researcher how would you address Bill's concerns?

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1. How do market researchers utilize scales to establish quantifiable measures of subjective and abstract concepts? Discuss general types of scaling, such as uni-dimensional and multidimensional scales, nominal and ordinal scales, or interval and ratio scales and how they might be used to benefit your organization.

Market researchers use scales because each scale has a unique property. The market researcher makes use of these properties. These scales are used to establish differing measurement properties. The market researcher uses scales to measure marketing phenomena to provide meaningful information in marketing decision making. He uses scales to transform an object into a form that can be used for analysis. So, the market researcher uses scales to transform subjective and abstract concepts into a form that can be analyzed in a research.

Normally scales provide measures of a singe dimension and so are uni-dimensional, however, there are typologies that are used to examine the intersection of two or mere dimensions. These typologies are important analytical tools and can be used as independent variables. Multidimensional scaling is a set of statistical techniques used for exploring similarities and dissimilarities in data.

Nominal scales are crude scales and they act as labels, the measure of average that can be used is mode. Ordinal scales are related to rankings of attitudes, items, products along a characteristic. The Spearman's Ranked Correlation Coefficient and Kendall's Coefficient of Concordance are the most common methods used. Interval scaled data that researchers use are the use of arithmetic mean. The interval scale uses equal units of measurement and interprets not only the ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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