Describe Three Different Sources Of External Data
Customer service Customer feedback cards- customers fill in feedback cards about the customer service from the company.
Customer questionnaires- customers who call the company are asked to do a questionnaire about the customer service they have experienced, what they did well and what could be improved.
These will then be given to the management within monthly meetings to be discussed and make appropriate changes. Informing future developments- based on the comments from the customers GSK can improve their service to receive more business. Internally produced and internally used
Sales Have weekly sales meetings to report the level of sales, returns and new accounts opened within the week Updating knowledge The sales team will update the other members of staff of their knowledge about the sales. Internal
Marketing They …show more content…
make the customer aware of the products which they sell and making sure that they come out on top within the market by increasing sales through promotional activity
Marketing audit – carry out a full marketing audit of the competition, by finding out each area of the marketing mix for each major competitor, Products, prices, places and there promotions Communication sales promotion
The marketing team have to communicate with the customer so they are aware of the product. Internal/ external finance The financial team deal with information such as the details of transactions made by the business so that they make the right invoices for the customer.
The credit controllers must know the personal details of their customers so they know when they require payments or interest needs to be charged to customers. Offering competitive insight- the financial team keep track of the businesses sales each month and help with decisions to gain more customers for example lowering prices to beat competitors.
Inviting support for internal and external activities- The finance department may take out loans and receiving or giving other financial help from other businesses Internal and external production The production team schedule to production which is produced as a result of orders which have been taken by the sales team. They only produce stock when it has been order this reduced the stock holding cost and risk of stock damage. They must have quality check every hour this information is collected and given to the quality team as long as there are no issues. The management team regularly review the schedules and will make any changes to the labour or equipment which they require. SWOT the team review the schedules and look at the strengths weaknesses threats and opportunities for the company. Internal
Human resources The human resources team deal with the employees which involve finding out information about their staff for example their age, qualifications. They must gather the data so they can work out how many employees they will need for the following year. Looking at turnover, details of staff. Once this is complete they will then carry out training audit which is finding out the level of skill each employee has which will help them to gain ideas of training for the following year. Strategic direction
The human resources team have strategies to find out what training will be needed for the following year. Internal
1.
Describe 3 different sources of external data that are mentioned in the case study
• The human resources contacted the local council on external data supply about current labour market information so that they knew what skills people had as well as education for employment.
• Office of national statistics- They received information on statistics to get trade industry information.
• Trade journals such as TES for teachers, the grocer, cater supermarket and convenience store.
2. Explain the difference between primary and secondary data being sure to give an example of the medium of data that GSK might have access to (e.g paper based or online/www).
Primary data is data which you have collected by yourself such as questionnaires and secondary data is data which you have received from someone else such as other businesses, books, and internet.
GSK accesses secondary data by the office of national statistics so that they can receive external information to see whether the local information correlates with the local data.
3. Explain how and why secondary market research data might be less reliable than primary
data.
Secondary research data may be less reliable than primary data as, there may be a time lag, for example in book or on websites and they may not be up to date and give you false information. Some information may be copyrighted and may not be able to be used. There also may not be answers to specific issues which you are looking for. They also might be biased.
Customer questionnaires- customers who call the company are asked to do a questionnaire about the customer service they have experienced, what they did well and what could be improved.
These will then be given to the management within monthly meetings to be discussed and make appropriate changes. Informing future developments- based on the comments from the customers GSK can improve their service to receive more business. Internally produced and internally used
Sales Have weekly sales meetings to report the level of sales, returns and new accounts opened within the week Updating knowledge The sales team will update the other members of staff of their knowledge about the sales. Internal
Marketing They …show more content…
make the customer aware of the products which they sell and making sure that they come out on top within the market by increasing sales through promotional activity
Marketing audit – carry out a full marketing audit of the competition, by finding out each area of the marketing mix for each major competitor, Products, prices, places and there promotions Communication sales promotion
The marketing team have to communicate with the customer so they are aware of the product. Internal/ external finance The financial team deal with information such as the details of transactions made by the business so that they make the right invoices for the customer.
The credit controllers must know the personal details of their customers so they know when they require payments or interest needs to be charged to customers. Offering competitive insight- the financial team keep track of the businesses sales each month and help with decisions to gain more customers for example lowering prices to beat competitors.
Inviting support for internal and external activities- The finance department may take out loans and receiving or giving other financial help from other businesses Internal and external production The production team schedule to production which is produced as a result of orders which have been taken by the sales team. They only produce stock when it has been order this reduced the stock holding cost and risk of stock damage. They must have quality check every hour this information is collected and given to the quality team as long as there are no issues. The management team regularly review the schedules and will make any changes to the labour or equipment which they require. SWOT the team review the schedules and look at the strengths weaknesses threats and opportunities for the company. Internal
Human resources The human resources team deal with the employees which involve finding out information about their staff for example their age, qualifications. They must gather the data so they can work out how many employees they will need for the following year. Looking at turnover, details of staff. Once this is complete they will then carry out training audit which is finding out the level of skill each employee has which will help them to gain ideas of training for the following year. Strategic direction
The human resources team have strategies to find out what training will be needed for the following year. Internal
1.
Describe 3 different sources of external data that are mentioned in the case study
• The human resources contacted the local council on external data supply about current labour market information so that they knew what skills people had as well as education for employment.
• Office of national statistics- They received information on statistics to get trade industry information.
• Trade journals such as TES for teachers, the grocer, cater supermarket and convenience store.
2. Explain the difference between primary and secondary data being sure to give an example of the medium of data that GSK might have access to (e.g paper based or online/www).
Primary data is data which you have collected by yourself such as questionnaires and secondary data is data which you have received from someone else such as other businesses, books, and internet.
GSK accesses secondary data by the office of national statistics so that they can receive external information to see whether the local information correlates with the local data.
3. Explain how and why secondary market research data might be less reliable than primary
data.
Secondary research data may be less reliable than primary data as, there may be a time lag, for example in book or on websites and they may not be up to date and give you false information. Some information may be copyrighted and may not be able to be used. There also may not be answers to specific issues which you are looking for. They also might be biased.