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Using Secondary Data and Online Information Databases

Secondary data has various uses in marketing research, including economic forecasting and database marketing. Learn the classification of secondary data, advantages, disadvantages, and how to evaluate and locate sources effectively.

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Using Secondary Data and Online Information Databases

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  1. Using Secondary Data and Online Information Databases

  2. Primary Versus Secondary Data • Primary data: information that is developed or gathered by the researcher specifically for the research project at hand. • Secondary data: information that has previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand.

  3. Uses of Secondary Data • Secondary data has many uses in marketing research and sometimes the entire research project may depend on the use of secondary data. • Applications include economic-trend forecasting, corporate intelligence, international data, public opinion, and historical data. • See www.secondarydata.com.

  4. Classification of Secondary Data • Internal secondary data are data that have been collected within the firm such as sales records, purchase requisitions, and invoices. • Internal secondary data is used for database marketing.

  5. Classification of Secondary Data • Database marketing is the process of building, maintaining customer (internal) databases and other (internal) databases for the purpose of contacting, transacting, and building relationships. CRM and DATA Mining • Ethical Issue? How much information should companies have about consumers? http://www.adcritic.com/interactive/view.php?id=5927

  6. Internal Databases • Database refers to a collection of data and information describing items of interest. • Vehicle Registration Database • Record: is a unit of information in a database. • SS#XXX YY ZZZZ • Fields: subcomponents of information composing records. • Brand – Color – Year • Model – Violations

  7. Types of Secondary Data • Internal Data – Internal databases (files, records, reports, etc.) Sales records Scanner data Sales reports Database: Records Fields Data mining

  8. External Secondary Data • Published: are sources of information prepared for public distribution and normally found in libraries or a variety of other entities such as trade organizations.

  9. External Secondary Data • Syndicated Services Data: are provided by firms that collect data in a standard format and make them available to subscribing firms -- highly specialized and not available in libraries. Arbitron Radio Listenership Studies

  10. External Secondary Data • External databases: are databases supplied by organizations outside the firm such as online information databases such as FACTIVA and Lexis Nexis.

  11. Different Types of Publications

  12. Advantages of Secondary Data • Obtained quickly • Inexpensive • Usually available • Enhances existing primary data • May achieve research objective

  13. Disadvantages of Secondary Data • Incompatible reporting units…need zip code data and only have County data. • Measurement units do not match…need per capita income and only have household income. • Class definitions are not usable…need to know percent of population with income above $100k and only have $50k and over. • Data are outdated.

  14. Evaluating Secondary Data • What was the purpose of the study? • Who collected the information? • What information was collected? • How was the information attained? • How consistent is the information with other information? • See MRI 6.2 on page 156

  15. Locating Secondary Data Sources • Step 1: Identify what you wish to know and what you already know about your topic. • Step 2: Develop a list of key words and names. • Step 3: Begin your search using several library sources.

  16. Locating Secondary Data Sources • Step 4: Compile the literature you have found and evaluate your findings. • Step 5: If you are unhappy with what you have found or are otherwise having trouble and the reference librarian has not been able to identify sources, use an authority. • Step 6: Report results.

  17. Search Strategies Used for Searching Online Information Databases • Boolean logic:And, Or, Not • Field searching:Author, Title, Subject • Proximity operators:Adj, Near, Same • Truncation:Allows root of the word to be submitted retrieving all words beginning with that root

  18. Search Strategies Used for Searching Online Information Databases • Nesting:a technique that indicates the order in which a search is to be carried out • Limiting:limits the search of database records to those that meet specified criteria

  19. Key Sources of Secondary Sources for Marketers • Census of the Population:considered the “granddaddy” of all market information • Conducted every ten years • Go to www.census.gov

  20. Key Sources of Secondary Sources for Marketers • Other government publications • Go to www.gpoaccess.gov/index.html • Statistical abstract of the United States • Go to www.census.gov/statab/www

  21. North American Industry Classification System (NAICS) • NAICS is replacing the SIC system which provides a coding system for business firms. • NAICS groups business firms into 20 broad sectors instead of the 11 divisions used by the SIC • NAICS updates types of businesses that have evolved since SIC was first used.

  22. North American Industry Classification System (NAICS) • NAICS uses a six digit code instead of the old four digit SIC code which allows for greater specificity in identifying types of firms. • Go to Google/NAICS

  23. “Survey of Buying Power” • The SPB is an annual survey published in Sales and Marketing Management magazine. • The “Survey of Buying Power” provides the buying power index (BPI).

  24. “Calculating the Buying Power Index” BPI = (Population of Market Area A/Total U.S. Population * 2) + (EBI of Market Area A/Total U.S. EBI) * 5 + (Retail Sales of Market Area A/Total U.S. Retail Sales) *3

  25. Demographics USA • Published by same company that produces the SPB • Demographics USA provides additional reporting categories for demographics. • Demographics USA provides several market indices in addition to the Buying Power Index.

  26. The Lifestyle Market Analyst • The Lifestyle Market Analyst provides an analysis of lifestyle categories such as “avid book readers,” “own a cat,” “golf,” “have grandchildren.”

  27. The Lifestyle Market Analyst • The lifestyle market analyst provides marketers with the following information: • Demographics by lifestyles • Other activities members of the lifestyle are involved in • Where the geographical markets are with the heaviest concentration of the given lifestyle • Which magazines participants of a given lifestyle read

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