Marketing Research: Chapter 5- Secondary Data and Packaged Information – Flashcards
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Primary Data
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information that is developed or gathered by the researcher specifically for the research project at hand
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Secondary Data
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previously gathered information by someone other than the researcher and/or for some other purpose than the research project at hand
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Internal secondary data
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data that have been collected within the firm
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Database marketing
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the process of building, maintaining, and using customer (internal) databases and other (internal) databases (products, suppliers, and resellers) to contact, transact, and build customer relationships
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Database
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a collection of data and information describing items of interest
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Record
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each unit of information in a database; could represent a customer, supplier, competitive firm, product, or an individual inventory item
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Fields
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subcomponents of information; include name, address, telephone number, email address, products purchased, dates of purchases, locations where purchased, warranty information, and any other information the company considered useful
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Internal databases
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databases consisting of information gathered by a company, typically during the normal course of business transactions
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Customer relationship management (CRM)
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internal databases for purpose of direct marketing and to strengthen relationships with customers
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Data mining
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software that helps managers make sense out of seemingly senseless masses of information contained in databases
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Micromarketing
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using a differentiated marketing mix for specific customer segments, sometimes fine-tuned for the individual shopper
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External secondary data
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data obtained from outside the firm
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Published sources
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sources of information that are prepared for public distribution and are normally found in libraries or through a variety of other entities, such as trade associations, professional organizations, and companies
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Syndicated services data
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data made available in a standard format subscribing firms; typically highly specialized and are not available in libraries for the general public
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External Databases
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databases supplied by organizations outside the firm
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Online information databases
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sources of secondary data searchable by search engines online
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Core-based statistical areas (CBSAs)
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geographic reporting units used by the Census Bureau; made up of 2 smaller units, metropolitan and micropolitan statistical areas
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Metropolitan SAs
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defined by the Office of Management and Budget as having at least one urbanized area of 50,000 or more population, plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties
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Micropolitan SAs
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a new set of statistical areas that have at least one urban cluster of at least 10,000 but less than 50,000 population, plus adjacent territory that has a high degree of social and economic integration with the core MSA as measured by commuting ties
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Geodemographics
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the classification of arbitrary, usually small, geographic areas in terms of the characteristics of their inhabitants
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American Community Survey (ACS)
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represents the most significant change in the availability of secondary data to be used for marketing research purposes in several decades
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American Factfinder
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the tool used for searching data collected by the ACS
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Packaged information
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type of secondary data in which the data collected and/or process of collecting the data are prepackaged for all users
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Syndicated Data
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packaged information collected in a standard format and made available to all subscribers
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Packaged services
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a prepackaged marketing research process that is used to generate information for a particular user
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Esri's Tapestry Segmentation
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a services that uses a ready-made, prepackaged process to profile residential neighborhoods
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Buzz or consumer-generated media (CGM)
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content created by consumers on blogs, discussion boards, forums, user groups, and other social media platforms; also referred to as online consumer word of mouth (eWOM)
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Tracking studies
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longitudinal studies that monitor a variable such as sales or market share over time
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Five ways companies use their databases (Kotler and Keller)
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1. identify prospects 2. which customers should receive a particular offer 3. deepen customer loyalty 4. reactivate customer purchases 5. avoid serious customer mistakes
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three sources of external data
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1. published 2. syndicated services data 3. databases
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Advantages of secondary data
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1. it can be obtained quickly 2. compared to collecting primary data, secondary data are inexpensive 3. some secondary data are readily available 4. secondary data may enhance primary data by providing a current look at issues, trends, yardsticks of performance, and so on that may affect what primary data should be collected 5. secondary data may be all that is needed to achieve the research objective
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Disadvantages of Secondary Data
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1. incompatible reporting units 2. mismatch of units of measurement 3. differing definitions used to classify the data 4. timeliness of the secondary data 5. lack of information needed to assess the credibility of the data reported
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Five Questions Useful in evaluating secondary data
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1. What was the purpose of the study? 2. Who collected the information? 3. What information was collected? 4. How was the information obtained? 5. How consistent is the information with other information?
