Question: Instructions: Extant data, or data that is already available, can be very helpful for any marketing research project. Because it is already available, there is no need for your company to spend the time or the money to repeat studies or surveys that have already been done. A quick scan of extant data at the beginning of a research project can save a lot of time and help companies decide how to best budget their time and resources. Using extant data can also be problematic, however. If a study was conducted for a different purpose than yours, results may not be exactly applicable to your situation. Also, sometimes it can be just as difficult or expensive to get ahold of data as it is to perform the actual research. Therefore, it is important to examine sources of extant data carefully and make good decisions about when it is appropriate to rely on existing information and when you need to conduct primary research yourself.
Find and evaluate extant data that could be useful for solving Advanced Automotive Concepts' problems, which you identified in Topic 2. Review the details in Case 5.2 and your description of problems and research objectives. Then complete a report of potentially useful extant data for Nick Thomas. Your report should list the major problems that need to be addressed. For each problem, identify a minimum of 2-3 promising sources that could be useful. For each source, include:
1. A bibliographic citation in APA format.
2. A short paragraph (3-5 sentences) that summarizes the content of the source.
3. A short paragraph (3-5 sentences) of evaluation. Explain why Thomas would want to pursue this source and identify its potential strengths and drawbacks.
Address your report to Thomas in memo format with an appropriate memo heading (you can utilize a standard Memo template in Microsoft Word for this assignment).
APA format is not required (except for the bibliographic citations), but solid academic writing is expected.
CASE 5.2
Nick Thomas is very concerned. He knows there are a number of issues that will impact consumers' decisions regarding automobiles they will demand in the future.
• What is likely to happen with gasoline prices in the future?
• Will alternative fuels such as compressed natural gas or electricity perform compared to gasoline in terms of miles per gallon, costs per gallon, and so forth?
• How many consumers believe in global warming?
• Of those who do believe in global warming, how many believe that it is a problem caused by mankind?
• How likely is it that consumer attitudes for the environment will manifest in terms of choices for automobiles?
If Zen Motors is really going to consider more fuel-efficient cars, Thomas knows he needs information on which fuel-efficient cars are selling well and which alternative fuels are the closest to being developed.
(THESE ALSO NEED TO BE ANSWERED)
1. What types of secondary information should Nick Thomas seek?
2. Select one particular topic from those that concern Thomas. Go to your library's databases and find current articles on the topic. List the database and the search terms you used to find the articles.
3. Write a short summary of the contents of the articles you found relative to the issue selected in question 2.