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Exploring Marketing Research William G. Zikmund

Exploring Marketing Research William G. Zikmund. Chapter 7: Secondary Data Research in a Digital Age . Data gathered and recorded by someone else prior to and for a purpose other than the current project Is often: Historical Already assembled Needs no access to subjects.

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Exploring Marketing Research William G. Zikmund

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  1. ExploringMarketing ResearchWilliam G. Zikmund Chapter 7: Secondary Data Research in a Digital Age

  2. Data gathered and recorded by someone else prior to and for a purpose other than the current project Is often: Historical Already assembled Needs no access to subjects Secondary Data

  3. Advantages of Secondary Data • Inexpensive • Obtained Rapidly • Information is not Otherwise Accessible

  4. Government data is often free

  5. Disadvantages of Secondary Data • Uncertain Accuracy • Data Not Consistent with Needs • Inappropriate Units of Measurement • Time Period Inappropriate (Dated)

  6. Secondary Data may be Dated The Economic Census profiles the U.S. economy every 5 years, from the national to the local level.

  7. Evaluating Secondary Data Does the data help to answer questions set out in the problem definition? Applicability to project objectives Does the data apply to the time period of interest? Does the data apply to the population of interest?

  8. Evaluating Secondary Data (continued) Do the other terms and variable classifications presented apply? Applicability to project objectives Are the units of measurement comparable? If possible, go to the original source of the data? Accuracy of the data

  9. Is the cost of data acquisition worth it? Accuracy of the data Is there a possibility of bias? Can the accuracy of data collection be verified?

  10. Objectives for Secondary Data Studies • Fact Finding • Model Building • Data Based Marketing

  11. Common Research Objectives for Secondary Data Studies Fact Finding - Identifying consumption patterns - Tracking trends Model building - Estimating market potential - Forecasting sales - Selecting trade areas and sites Data Base Marketing - Development of Prospect Lists - Enhancement of Customer Lists

  12. Fact Finding • Identify Consumer Behavior • Trend Analysis • Environmental Scanning

  13. Market Potential Forecasting Sales Analysis of Trade Areas Model Building

  14. Practice of maintaining a customer data base Names Addresses Past purchases Responses to past efforts Data from numerous sources Data Based Marketing

  15. Internal Data • Internal and Proprietary data is more descriptive • Accounting information • Sales information • Backorders • Customer complaints

  16. Data Mining Dig through volumes of data to discover Patterns about an organization's customers And products.

  17. Government Newspapers Journals Trade Associations Libraries Internet Vendors Government Sources Books and Periodicals External Data

  18. Popular Addresses

  19. Traditional Distribution Indirect Channel Using Intermediary Information Producer (Federal Government) Library (Storage of government documents and books) Company User

  20. Traditional Distribution Direct Channel Information Producer (Federal Government) Company User

  21. Direct, Computerized Distribution Using Intermediary Information producer’s (Just-in-time inventory partner) computerized database Company user

  22. Modern Distribution of Secondary Data Information producer B (Grocery store-retail scanner data) Information producer C (Audience research company- television viewing data) Information producer A (Federal government- census data) Vendor/external distributor (Computerized database integrating all three data sources for any geographic area) Information producer A (Federal government- census data)

  23. Created, recorded, or generated by an entity other than the researcher’s organization Government Trade associations Newspapers and journals External Data

  24. Libraries The Internet Vendors Producers Books and Periodicals External Data

  25. Government sources Media sources Commercial sources External Data

  26. Government Sources

  27. Market share data companies like A.C. Nielsen provide information about sales volume and brand share over time Demographic and census updates—many organizations supply census updates, in easy-to-use or custom formats Commercial Sources

  28. Attitude and public opinion research—syndicated services report the findings of opinion polls Consumption and purchase behavior data Advertising research—readership and audience data Commercial Sources

  29. Diverse types of data offered from a single source - e.g., television viewing and scanner purchase data - e.g., Prizim and ClusterPlus Single Source Data

  30. Typical limitations Additional pitfalls Unavailable Questionable accuracy Lack of standardized terminology Global Secondary Data

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