Data that has been previously gathered.
New data gathered to help solve the problem under investigation.
Advantages of Secondary Data:
1. May help to clarify or redefine the problem during the exploratory research process.
2. Secondary data may actually provide a solution to the problem
3. Secondary data may provide primary data research method alternatives
4. Secondary data may alert the marketing researcher to potential and or difficult ties
5. Secondary data may provide necessary background info and build credibility for the research report
6. Secondary Data may provide the sample frame (chapter 5 and 6)
Limitations of Secondary Data:
1. Lack of availability
2. Lack of relevance
Determining the accuracy of secondary data:
1. Who gathered the data?
2. What was the purpose of the study?
3. What info was collected?
4. When was the info collected?
5. How was the info collected?
6. Is the info consistent with other info?
A collection of related info developed from data within the organization.
Marketing that relies on the creation of a large computerized file of customers’ profiles and purchase patterns to create a targeted marketing mix.
A computer program that mimics the processes of the human brain and thus is capable of learning from examples to find patterns in data.
The use of statistical and other advanced software to discover non-obvious patterns hidden in a database.
Data mining potential uses:
1. Customer acquisition
2. Customer retention
3. Customer abandonment
4. Market base analysis
The use of online and offline data to understand a consumer’s habits, demographics, and social networks in order to increase the effectiveness of online advertising.
Marketing Research Aggregator
A company that acquires catalogs, reformats, segments and resells reports already published by large and small marketing research firms.
Decision Suport System (DSS)
An interactive, personalized info management system, designed to be initiated and controlled by individual decision makers.
Managers use DSS to conduct sales analyses, forecast sales, evaluate advertising, analyze product lines and keep tabs about the market trends and competitors’ actions.
Ask “what if” questions
gets slice of data.
Fair Credit Act (FCRA)
Promotes accuracy in consumer reports, ensure privacy of info.
Children’s Online Privacy Protection Act (COPPA)
Aims to give parents control over what info is collected from their kids online and what info is used.
Characteristics of DSS
3. Discovery oriented
4. Easy to learn and also easy to use