Tuesday, May 12, 2015

EOC: Week 6: Deeper meaning of film BIG

Have you ever looked at a certain product and wondered why it was even on the shelf to be sold? Marketing professionals sometimes have difficulty trying to pinpoint exactly what will make a customer buy their products. Sometimes with research, interaction is important and that is what I feel the Film BIG means. Marketers focus on secondary mainly because it is easier to obtain and takes less time to gather. "The primary advantage of secondary data is their availability. Obtaining secondary data is almost always faster and less expensive than acquiring primary data. This is particularly true when researchers use electronic retrieval to access data stored digitally. In many situations, collecting secondary data is instantaneous." Primary research on the other hand is more time consuming when it comes to gathering data through surveys and observations that can take weeks to months trying to capture, but it will always be more accurate and current. Tom Hanks was introduced to the business world by simply being his very own self. By "playing" or in other words, interacting with the business environment, the toy company was able to market toys that kids would actually want to play with instead of putting random samples to test on the market and spend unnecessary money. Primary research will always cost less to pursue. 

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