Secondary Data and Packaged Information

information that is developed or gather by the researcher specifically for the research project at hand
primary data
information that has previously been gathered by someone other than the research and/or for some other purpose than the research project at hand
secondary data
economic-trend forecasting, corporate intelligence, international data, public opinion, and historical data are applications of what type of data?
secondary
what may be used to assess changes in age distribution for a market?
census data
what are the two classifications of secondary data?
internal secondary data and database marketing
data that has been collected within the firm, such as sales records, purchase requisitions, and invoices
internal secondary data
the process of building and maintain customer (internal) databases and other (internal) database for the purpose of contracting, transacting, and building relationships. Examples: CRM and data mining
database marketing
consist on information gathered by a company, typically during the normal course of business transactions.
internal databases
Companies use their internal databases for what purpose(s)?
direct marketing and to strengthen relationships with customers, which is referred to as customer relationship marketing (CRM).
a collection of data and information describing items of interest
database
a unit of information in a database
record
subcomponents of information composing records
fields
the name for software that helps managers make sense out of seemingly senseless masses of information contained in databases
data mining
using a differentiated marketing mix for specific customer segments, sometimes fine-tuned for the individual shopper
micromarketing
what are the five ways to use databases?
identify prospects, decide which customers should receive a particular offer, deepen customer loyalty, reactivate customer purchases, and avoid serious customer mistakes
databases supplied by organizations outside the firm
external databases
what are the three types of external databases?
published, syndicated services data, and databases
sources of information prepared for public distribution and normally found in libraries or a variety of other entities, such as trade organizations
published
provided by firms that collect data in a standard format and make them available to subscribing firms – highly specialized and not available in libraries
syndicated services data
supplied by organizations outside the firm, such as online information databases (e.g., IBISWORLD, FACTIVA, Ebsco, and ProQuest)
databases
what are the advantages of secondary data?
obtained quickly, inexpensive, readily available, enhance existing primary data and may achieve research objective
what are the disadvantages of secondary data?
reporting units may be incompatible, measurement units do not match, class definitions are not usable, maybe outdated, and may not be creidible
what five questions should you ask when evaluating secondary data?
what was the purpose of the study?
who collected the info?
what info was collected?
How was the info collected?
How consistent is the info with other info?
what are two key sources of secondary sources for marketers?
census of the population and economic census
surveys 3 million americans every year; provides updated info on key demographics; provides forecasts for future years
American Community Survey (ACS)
survey conducted every 10 years
census
survey conducted every 5 years
economic census
tool used for searching data collected by the ACS
American factfinder
a type of secondary data in which the data collected and/or the process of collecting the data are prepackaged for all users
packaged information
what are the two broad classes of packaged information
syndicated data and packaged services
collected in a standard format and made available to all subscribers. For example, Marketing Evaluations, Inc., offers Q Scores services
syndicated data
a prepackaged marketing research process that is used to generate information for a particular user.
packaged services
what is the difference between syndicated data and packaged services?
unlike syndicated data, the dat packaged service will differ for each client
uses a ready-made, prepackaged process to profile residential neighborhoods. This info is purchased by clients with the aim of better understanding who their customers are, where they are located, how to find them, and how to reach them
Esri’s Tapestry Segmentation
Shared costs, quality of the data collected typically very high and speed are advantages of what
syndicated data
buyers have little control over what info is collected, firms often must commit to long-term contracts when buying, and no strategic info advantage exists in purchasing this data are disadvantages of what
syndicated data
the experience of the research firm offering the service, reduced cot, and speed of the research service are advantages of what
packaged services
aspects of a project cannot be customized and the company providing this service may not know the idiosyncrasies of a particular industry are disadvantages of what
packaged services
measuring consumer attitudes and opinions, market segmentation, monitoring media usage and promotion effectiveness, and market tracking studies are marketing applications of what
packaged information