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Chapters 7 Secondary Data

Chapters 7 Secondary Data. SECONDARY VS PRIMARY DATA Secondary data Information not gathered for the immediate study at hand but for some other purpose Primary data Information collected specifically for the purpose of the investigation at hand.

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Chapters 7 Secondary Data

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  1. Chapters 7 • Secondary Data

  2. SECONDARY VS PRIMARY DATA Secondary data Information not gathered for the immediate study at hand but for some other purpose Primary data Information collected specifically for the purpose of the investigation at hand

  3. CRITERIA FOR JUDGING THE ACCURACY OF SECONDARY DATA • The source • The purpose of the publication • General evidence regarding the quality of the data

  4. The Balancing Act with Secondary Data *Inexpensive *Can be Secured Quickly *Unknown Accuracy *Ill Fitting for the Problem

  5. PRIMARY VS SECONDARY SOURCE Primary Source The originating source of secondary data. Secondary Source A source of secondary data that did not originate the data but rather secured them from another source. RULE: Always use the primary source!!

  6. Types of Secondary Data Examples Sales invoice Salesperson’s call reports Salesperson’s expense account Credit memos Warranty cards Internal Secondary Data General works Directories Periodicals Statistical sources Financial records Published External Commercial Geodemographic data Diary panel data Store audit data Scanner data Advertising exposure data

  7. How to Get Started When Searching Sources of Secondary Data 1. Identify what you wish to know and what you already know about your topic. 2. Develop a list of key terms and names. 3. Search several of the general guides, directories, and web sites for papers and/or reports. 4. Compile the literature you have found. Rework your list of key words and authors if necessary. 5. Consult the reference librarian. 6. Consult the various directory guides. 7. Identify authorities in the area and consult them.

  8. Explore the U.S. Census Web Page (www.census.gov). How could you use this information to solve marketing problems?Look specifically at the Census of Population and the Business Censuses for the Charlotte MSA. What can these tell you about doing business in charlotte?Write a one page report to management about what your team found.

  9. Check out the Reuters Business Insights web page (www.reutersbusinessinsight.com).Note: You can access this only from a campus computer or from a proxy server.Search for a report on a particular industry (e.g. beverage) or consumer group (e.g. elderly) and then skim through the report. What did your team find? How could this information be useful in market and strategic planning? Write a one page summary of your findings.

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