Ch. 6 Seconday Data in Marketing Research

secondary data

facts and information collected and recorded by someone else prior to and for the purposes other than the current project

advantages of secondary data

readily available, instantaneous, inexpensive

disadvantages of secondary data

researchers of the work likely collected it for a different reason and does not fit with the research question perfectly, the user has no control over the data’s reliability and validity

questions for secondary data

is the data reliable and valid? is the time period of the data still relevant? does the data apply to the population of interest? is the data usable or be transformed to be usable?

data transformation

process of changing the original form of data to a format more suitable for achieving a stated research objective

units of measurement may cause problems because

difference in scales makes it difficult to transfer information (eg. grading scale is nontransferable but currency conversion is transferable)

cross-checks

comparison of the data from one source to another

market tracking

the observation and analysis of trends in industry volume and brand share overtime

environmental scanning

entails information gathering and fact-finding designed to detect early indications of environmental changes

push technologies

provide information to users they did not specifically request

model building

specifying relationships between two or more variables, perhaps extending to the development of descriptive, explanatory, or predictive analysis.

model building tries to specify how one thing ______ in coordination with another

changes

estimating a market potential for geographic areas happens through

transforming secondary data from two or more sources and making a projection for the geographic area of interest

index of retain saturation

local market potential (demand)

local market retailing price

investigates the relationship between retail demand and supply, higher numbers indicate a less saturated area

data mining

the use of powerful computer analytical routines to dig automatically through huge volumes of data searching for useful patterns of relationships

neural networks

a form of AI in which a computer mimics the way human brains process information and make decisions

artificial intelligence

aka machine learning, represents data-based computerized decision making, based on secondary data. aims to stimulate human intelligence

market based analysis

form of data mining that analyzes anonymous point-of-sale transaction data bases to identify coinciding purchases or relationships between products purchased and other retail shopping information

customer relationship management (CRM)

s system that maintains customer databases containing their names, addresses, phone numbers, past purchases, responses to past promotional offers and other data sch as demographic and financial data

database marketing

the practice of using CRM databases to develop one-on-one relationships and precisely targeted promotional efforts with individual customersin

internal data

data that originate in the organization and represent events recorded by or generated by the organization

proprietary data

emphasizes the fact that company owns and controls the data

enterprise search

similar to an internet search but focuses on data within the enterprises internal network, considers not only how many views a particular data page records, but also search patterns and other useful data

open source innovation

effort that involves allowing other firms real time access to otherwise proprietary data within the enterprise

external data

facts observed, recorded, and stored by an entity outside of the researchers organization. computer access makes this type of data as accessible as internal data

producers classifying external secondary data

publishers of books and periodicals, government sources, media sources, trade association sources, commercial sources, and consumer sources

vendors

secondary data available directly or through intermediaries by external producers

single source data

diverse types of data offered by a single company

National Trade Data Bank (NTDB)

Established by the Omnibus Trade and Competitiveness Act to provide “reasonable public access, including electronic access” to an expert promotion data system that was centralized, inexpensive, and easy to use