Marketing Research: CH 4- "Using Secondary Data & Online Information"

Lo1: Classify types of s___________________ data and demonstrate their uses.
secondary
Lo2: Discuss advantages and disadvantages of secondary d_____ .
data
Lo3: Discover how to find secondary data, including o__________ information bases.
online
Lo4: Examine sources of external secondary data, including s__________________ information sources.
standardized
Primary data are information that is developed or gathered by the researcher s_______________ for the research project at hand
specifically
Secondary data is information p______________ gathered by someone other than the researcher and/or for some purpose other than the research project at hand.
previously
Secondary Data is f___, easy access via Internet and virtually always a part of research projects
fast
Statistics Canada offers much data and d_______________ data is particularly valuable.
demographic
Psychographic profiles can also be provided by research f______.
firms
Marketing researchers have identified certain demographic and psychographic groups as market segments that they tend to make s___________ purchases, have similar attitudes, and have similar media habits.
similar
The most significant d_______________ groups for decades has been the Baby Boomers, Gen xers and Gen yers.
demographic
Data in Marketing Research Flowchart
Data in Marketing Research Flowchart
Wikipedia is only good if you go to their r______________ section and use those and not the actually article entry.
references
Internal Secondary Data are data that have been collected w_________ the firm.
within
Internal Secondary Data is a Classification of S_________________ Data.
secondary
Types of secondary data include, sales records, i_____________ and more
invoices
Internal Secondary Data can be part of firm’s marketing information s_____________ especially databases which tend to have extensive customer information.
system
External Secondary Data are data that have been collected from o_________ the firm.
outside
External Secondary Data are published sources from libraries, trade or professional a_______________ whether it be in print or online.
associations
External Secondary Data Sources
External Secondary Data Sources
Internal Databases is a collection of data and information like records on customers, s__________ , products…
suppliers
Internal databases are compiled by the f____ and customer relationship management uses them extensively
firm
When they comb through a database it is data m________ which refers to seeking trends or patterns.
mining
Text mining is when firms collect data from m_______ and in doing so they must do so ethical as there are legal issues on use of these data.
media
The advantages of secondary data is that it’s quick to obtain, i_______________ compared to primary data and generally widely available.
inexpensive
The disadvantages of secondary data is that it may be i__________________ with your needs and you may desire a different geographical area then they used.
incompatible
Another disadvantages of secondary data is that the measurement unit might m____________ what you need.
mismatch
The household income only you get per capita or the class d________________ are unusable. There might be different categories for income or the outdated data may not be useful.
definitions
When e_____________ secondary data you need to answer 5 key questions!
evaluating
1. What was p__________ of study? It may reflect biased interest, they might have been “proving” something
purpose
2. W___ collected the information? Check competence of firm and the methodology used.
Who
3. What i________________ was collected? It may not be accurately represented.
information
4. How was the information obtained? You need to know sources they used.
5. How consistent is information?
Different studies often present different results and you need to assess the results for reasonable consistency.
Locating Secondary Data Sources:
Step 1: identify what you wish to know but first determine what you already know! Clearly define your topic.
Locating Secondary Data Sources:
Step 2: list key terms, names and ensure you have correct terminology. Remember that different databases use different terms.
Think of synonyms. It gives us some other alternative for looking it up. Think of industry jargon.
Online Search Strategies:
Step 3: start searching by using library sources effectively.
It’s key to understand how database is organized.
They usually have various levels and may include databases, then record, fields, and words.
Complex ideas are better with advanced searches so get to know how each database works.
Online Search Strategies [step 3 cont’d]
Boolean logic is using “and, or, not” and will include or exclude specific terms .
Field searching is a search by one or more fields which may be more e__________, e.g. title of field.
efficient
Proximity operators: are adjoining words, truncation and nesting are l___________ but also useful.
limiting
Truncation allows the r____ of the word to be submitted retrieving all words beginning with that root with ???
root
Nesting is a technique that indicates the o________ in which a search is to be carried out first ( )
order
Limiting limits the search of database records to those that meet specific c____________ with advance search.
criteria
Online Search Strategies [steps 4, 5, 6]
Step 4: Compile and e_____________ your findings. You may need additional resources, help.
evaluate
Step 5: If you’re still unhappy, consult an a_____________ as there may be individuals who specialize in the topic.
authority
Analysis p______________ is when you’ve looked at too much information, information overload.
paralysis
Step 6: Report your results and it’s important to report back, and d_____________ properly. (You can check with the rubric Maria provides.)
document
A key Sources of Secondary Data is the
Canadian Census which is the “granddaddy” of all market information. The major census was in 2011 and the previous one was in 2006.
Stats Canada Surveys are regular surveys, such as:
Household spending, labour force
Ethnic diversity
Consumer price index
Extensive online publications list
The North American Industry Classification System (NAICS) is a standard coding system to classify businesses and is common to Mexico, Canada and US.
The North American Industry Classification System (NAICS) covers 20 broad sectors of economy and a six digit code gives classification.
A type of standardized Information is s_______________ Data: and has a standard format for subscribers.
syndicated
Syndicated Data may examine appeal of performers for instance:
-Nielsen provides data on TV viewing using Standardized Data and a standardized p_________.
process
It’s a specific process to profile e.g. Neighbourhoods and ensures c_________________ measured data.
consistently
http://www.environicsanalytics.ca/prizm5
is a great website for looking up neighborhood d____________________.
demographics
The Advantages a of Syndicated Data is that cost is s________ across many firms and data is of high quality.
shared
Also Syndicated Data is q______, and its current data.
quick
Disadvantages of Syndicated Data is that buyers have little c_______________ and data is not customized and it often requires a long-term contract.
control
Advantages of Standardized Services is the e___________advantage, and its proven processes.
experience
Other advantages of Standardized Services are reduced costs and its quick.
Disadvantages of Standardized Services are there’s little c_____________________, and it may not fit the situation you’re testing for.
customization
Various a___________________ of Standardized Information exist like consumer attitudes, opinion polls, emerging social and political issues.
Applications
Various companies measure attitudes and Opinion:
http://www.harrisdecima.ca/
http://www.ekos.com/about/default.asp
http://www.gallup.com/home.aspx
http://angusreid.org/
Often Standardized Information is garnered through online polling panels although there are some longitudinal studies.
Standardized Information is defining market segments and these segments are defined by a_____________, such as age.
attributes
Standardized Information is especially useful in b_______________ marketing
business
Environics, VALS provide segment concepts flesh this out in class- Go online and take a survey “Values, Attitude and Lifestyles”
The key is to not make too many assumptions.
Applications of Standardized Information includes
Conducting market t_____________, scanning studies track purchase patterns.
tracking
Nielsen tracks s___________ data for sales in that consumer’s record household consumption.
scanning
Applications of Standardized Information is gained when retail store a_______ and track sales.
audits
Diaries were the traditional method to record p__________ or document media habits but fewer consumers participate now in that.
purchases
Standardized Information uses many systems to support decisions and help m____________ vast information produced.
manage
Standardized Information view how product performs at retailers and it m______________ media and promotions.
monitors
Standardized Information measures p________________ effectiveness and track video and book sales.
promotional
Broadcast Bureau of measurement Canada
Starch readership service…blah bl;ah blah finsih in class
Single source data is continuously recorded panel data that contains information on several variables such as promotional message exposure, demographics and buyer behaviour
Help determine causual trelationships between tupes of promotions and salers.
Combine several variables
Exposure to message, demographics, behaviour
Universal product code shows purchase
Coupled with database, gives rich data
Match with databases of demographic data
External Secondary Data Extensive resources available
Information overload with so many sources
Electronic searches helpful to filter
Standardized data = specialized data for sale
Many suppliers of this
Database marketing is the process of building, maintaining customer (internal) databases and other internal databases ( products, suppliers, resellers) for the purpose of contacting, transacting, and building relationships.
Internal records include:
– Accounting data
– Sales Reports
– Inventory Management
– Customer Database- customer feedback
– Crm(Customer Relation Marketing)- service, telemarketing, call centre, customer database
Garbage in and garbage out for databasing.
Database is a collection of data and information.
Inside of that you have a record or unit of information
A fled is an entry point, what do you want to keep track of, student number, degree, address
Database is a big suitcase and the items inside the fields.
Internal databases are compiled by the firm during business transactions. Why not get more information about the transaction or who they are.
Data mining is analyzing data trends or patterns.
Data mining increases your efficiency and or decrease cost of marketing.
Text mining is when you collect data for media like websites, online blogs, Facebook, etc.
There are some ethical and legal issues on using data and page 118 outlines them.
Mria and link to privacy page to check about the legality of our own database usage.