Question

• Ch. 2:  What are the limitations of secondary data in marketing research?
• Ch. 3:   Look at the websites of Regent Seven Seas Cruises and Royal Caribbean.  Describe the type of consumers each company is seeking to attract (discuss  each company’s target market psychographics, as well as socioeconomic factors such as likely social class, likely income, and likely education & occupation utilizing the concepts discussed in the chapter).  Add images to illustrate your points.
• Ch. 5:   To answer this question, you must describe yourself and your lifestyle in a frank and open way – there are no right or wrong answers, only bad answers that are phony and boring, and good answers that are honest and opinionated!!                                                 

Begin by listing your major personality traits; then out of the seven personality factors explained in the chapter, identify the three that best describe your shopping behavior; then explain whether your clothing preferences reflect them: i.e., how close does the theory reflect your individual reality in each case?  

In another topic, are your clothing purchases rational or emotional? (i.e., do you tend to buy only those items you can afford, or do you go overboard and splurge on items you really like, or is it a mix -and if so, on which items do you tend to splurge?)   

Then, do you buy clothes to maintain your self-image, to enhance it, to change it, or to create a temporary image to fit an event or activity (perhaps when you go out at night)?  And, in general, are your clothing preferences different from your peer group and best friends?  

Finally, do you feel that you are what you buy, or that you buy based on what you are, or instead that you are more than the sum of what you buy?  

Answer 1

Secondary data is the data which is already available on the company website, brochures or company record book and is not being collected exclusively for the purpose of research. Thus the limitations of secondary data are as :

• Quality of data : There are certain questions about the quality of secondary data. The company publishing the data might not be authentic or the sample size too small to generate any relevant information.
• Not specific as per the researcher's needs : As the secondary data is already being collected, so it might be general and vague and not specific as per the researcher's needs. Thus it would not be used to draw any specific information.
• Incomplete and inaccurate information : The data might be old and inaccurate or it is incomplete to help in the process of decision making.
• Not timely : The availability of data is not timely to draw any specific conclusion at an appropriate time.