Learn how to do External Analysis of a company (with examples)

Marketing Management Course
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  • 33 lessons
  • 10 quizzes
  • 10 week duration

4.4 Social analysis resources

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You can use the secondary resources such as government data and data borrowed from other companies to understand the social aspects of the target customers.

If such data is not available in good amount, then you can conduct a survey to collect the data. This method is relatively costly and time consuming.

This method is called primary research method. In this method, there are several modes that are used such as interviewing your candidate or getting them fill interview questions.

If you find it time consuming and costly, then instead of conducting a wide and detailed data collection activity, you can ask a panel of experts on social aspects. This research method is called Delphi method.

In this method, you reach the individuals who have been studying the local society for very long and knows more than the people who are living in the location themselves.

Here, you have to ensure that you do not end up taking opinion from so-called-experts, instead of actual-experts. You will find so-called-experts in hundreds. They know nothing but are more in the news giving their opinion on everything. Stay safe from them.

Find few authentic experts and get the opinion. It will get the job done.