Chapter 5: Secondary Data
-Secondary data: information that has previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand
-Applications include economic-trend forecasting, corporate intelligence, international data, public opinion, and historical data.
-Internal secondary data is used for database marketing. Database marketing is the process of building and maintaining customer (internal) databases and other (internal) databases for the purpose of contacting, transacting, and building relationships. Examples: CRM and data mining.
-Companies use their internal databases for purposes of direct marketing and to strengthen relationships with customers, which is referred to as customer relationship management (CRM).
-Micromarketing refers to using a differentiated marketing mix for specific customer segments, sometimes fine-tuned for the individual shopper.
-To decide which customers should receive a particular offer
-To deepen customer loyalty
-To reactivate customer purchases
-To avoid serious customer mistakes
1) Published: information prepared for public distribution and normally found in libraries or a variety of other entities, such as trade organizations.
2) Syndicated services data: provided by firms that collect data in a standard format and make them available to subscribing firms—highly specialized and not available in libraries.
3) External Secondary Databases: databases supplied by organizations outside the firm, such as online information databases (e.g., IBISWorld, FACTIVA, Ebsco, and ProQuest).
-Are readily available
-Enhance existing primary data
-May achieve research objective
-Measurement units do not match
-Class definitions are not usable
-May be outdated
-May not be credible
-Who collected the information?
-What information was collected?
-How was the information attained?
-How consistent is the information with other information?
-Economic Census, conducted every five years
There are two broad classes of packaged information:
-Syndicated data: collected in a standard format and made available to all subscribers. For example, Marketing Evaluations, Inc., offers several Q Scores® services
-Packaged services: The term packaged services refers to a prepackaged marketing research process that is used to generate information for a particular user.
Unlike syndicated data, the data from a packaged service will differ for each client.
-Quality of the data collected typically very high
-Firms often must commit to long-term contracts when buying syndicated data.
-No strategic information advantage exists in purchasing syndicated data (other firms can buy the same data).
-Reduced cost of the research
-Speed of the research service
-The company providing the packaged service may not know the idiosyncrasies of a particular industry.
-Monitoring media usage and promotion effectiveness
Monitoring consumer buzz or consumer-generated media (CGM)
Monitoring and effectiveness of print media
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