Session 7: Secondary Sources of Marketing Data

These flashcards cover key concepts from Session 7 on Secondary Sources of Marketing Data, focusing on types of data, their advantages and disadvantages, and important ethical considerations.

Secondary Data

Data collected by someone other than the user, originally gathered for a purpose other than solving the present problem.

Exploratory Research

Foundational research type aimed at gaining understanding of issues or problems.

Descriptive Research

Research that provides detailed insights into consumer behavior.

Causal Research

Research that establishes cause-and-effect relationships through experiments.

Internal Secondary Data

Data collected within an organization during regular business operations.

External Secondary Data

Data collected by entities outside the organization, such as government reports or market research studies.

Syndicated Data

External secondary data supplied from a common database to subscribers for a fee.

Packaged Services

Predefined research processes and data collection methods offered to multiple clients by specialized firms.

Digital Tracking Data

Data generated from users’ online activities to optimize websites and improve advertising effectiveness.

Social Media Data

User-generated content shared on social media platforms, providing insights into consumer behavior.

Advantages of Secondary Data

Cost-effective, time-saving, widely available, enhances primary research, and sufficient for some objectives.

Disadvantages of Secondary Data

Incompatible reporting units, mismatched measurement units, outdated data, and potential lack of credibility.

Evaluating Secondary Data

Assessing the quality and validity of secondary data using set criteria such as the purpose and credibility of the data.

Big Data

Large and complex datasets that enable marketers to tailor offerings and advertising for improved customer experiences.

Ethical Challenges

Concerns around data privacy, consumer consent, and the responsibility of companies to protect user data.