Secondary Data and Packaged Information – Flashcards
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information that is developed or gather by the researcher specifically for the research project at hand
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primary data
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information that has previously been gathered by someone other than the research and/or for some other purpose than the research project at hand
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secondary data
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economic-trend forecasting, corporate intelligence, international data, public opinion, and historical data are applications of what type of data?
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secondary
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what may be used to assess changes in age distribution for a market?
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census data
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what are the two classifications of secondary data?
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internal secondary data and database marketing
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data that has been collected within the firm, such as sales records, purchase requisitions, and invoices
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internal secondary data
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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
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database marketing
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consist on information gathered by a company, typically during the normal course of business transactions.
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internal databases
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Companies use their internal databases for what purpose(s)?
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direct marketing and to strengthen relationships with customers, which is referred to as customer relationship marketing (CRM).
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a collection of data and information describing items of interest
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database
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a unit of information in a database
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record
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subcomponents of information composing records
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fields
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the name for software that helps managers make sense out of seemingly senseless masses of information contained in databases
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data mining
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using a differentiated marketing mix for specific customer segments, sometimes fine-tuned for the individual shopper
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micromarketing
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what are the five ways to use databases?
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identify prospects, decide which customers should receive a particular offer, deepen customer loyalty, reactivate customer purchases, and avoid serious customer mistakes
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databases supplied by organizations outside the firm
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external databases
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what are the three types of external databases?
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published, syndicated services data, and databases
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sources of information prepared for public distribution and normally found in libraries or a variety of other entities, such as trade organizations
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published
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provided by firms that collect data in a standard format and make them available to subscribing firms - highly specialized and not available in libraries
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syndicated services data
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supplied by organizations outside the firm, such as online information databases (e.g., IBISWORLD, FACTIVA, Ebsco, and ProQuest)
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databases
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what are the advantages of secondary data?
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obtained quickly, inexpensive, readily available, enhance existing primary data and may achieve research objective
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what are the disadvantages of secondary data?
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reporting units may be incompatible, measurement units do not match, class definitions are not usable, maybe outdated, and may not be creidible
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what five questions should you ask when evaluating secondary data?
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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?
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what are two key sources of secondary sources for marketers?
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census of the population and economic census
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surveys 3 million americans every year; provides updated info on key demographics; provides forecasts for future years
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American Community Survey (ACS)
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survey conducted every 10 years
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census
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survey conducted every 5 years
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economic census
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tool used for searching data collected by the ACS
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American factfinder
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a type of secondary data in which the data collected and/or the process of collecting the data are prepackaged for all users
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packaged information
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what are the two broad classes of packaged information
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syndicated data and packaged services
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collected in a standard format and made available to all subscribers. For example, Marketing Evaluations, Inc., offers Q Scores services
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syndicated data
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a prepackaged marketing research process that is used to generate information for a particular user.
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packaged services
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what is the difference between syndicated data and packaged services?
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unlike syndicated data, the dat packaged service will differ for each client
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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
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Esri's Tapestry Segmentation
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Shared costs, quality of the data collected typically very high and speed are advantages of what
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syndicated data
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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
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syndicated data
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the experience of the research firm offering the service, reduced cot, and speed of the research service are advantages of what
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packaged services
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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
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packaged services
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measuring consumer attitudes and opinions, market segmentation, monitoring media usage and promotion effectiveness, and market tracking studies are marketing applications of what
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packaged information
