Market Research Ch. 4 - Exploratory Research Design; Secondary and Syndciated DAta

Question 1

Advantages of Secondary Data

Answer 1

Helps:
Identify the problem
Better define the problem
Develop an approach to the problem
Formulate an appropriate research design
Answer certain research questions and test some hypothesis
Interpret primary data more insightfully
Prerequisite to collection of primary data
Rapid and easy
Low cost relatively
Short collection time

Question 2

Disadvantages to Secondary Data

Answer 2

Limited in relevance and accuracy
May not be completely current or dependable

Question 3

Criteria for Evaluating Secondary Data

Answer 3

Specifications/Methodology used to collect data (data should be accurate, valid, and applicable to problem at hand)
Error: Accuracy of data
Currency: When the data was collected
Objective: The purpose for which the data were collected
Nature: the content of the data (e.g., def of certain terms)
Dependability: How dependable are the data?

Question 4

Internal Data

Answer 4

Data that are available within the organization for which the research is being conducted

Question 5

Customer Databases

Answer 5

Internal data form
Raw sales, loyalty program, warranty card and other internal data transfered to a computer, filtered by psychographic and demographic data

Question 6

Data Warehouse

Answer 6

Internal secondary data
a centralized database that consolidates companywide data from a variety of operational systems

Question 7

Data Mining

Answer 7

Internal secondary data
Data mining involves the use of powerful computers with advanced statistical packages and other software to analyze large databases to discover hidden patterns in the data

Question 8

CRM systems

Answer 8

Internal secondary data
A customer relationship management system is a decision support system that is used for managing the interactions between an organization and its customers
Customer databases and data mining are building blocks of CRM system

Question 9

Database marketing

Answer 9

Internal secondary data
Marketing that involves the use of computers to capture and track customer profiles and purchase detail

Question 10

External data

Answer 10

Data that originated external to the organization
Includes:
Business/nongovernment data
Government Sources
Syndicated Sources

Question 11

Business/Nongovernment data

Answer 11

broad category
anything not government or syndicated

Question 12

Government data sources

Answer 12

Census data (Primarily demographic data)
Other Government Sources

Question 13

Syndicated Services (Syndicated Sources)

Answer 13

Information services offered by marketing research organizations that provide information from a common database to different firms that subscribe to their services
Classified according to:
Household/consumer
Survey
Purchase and Media Panels
Electronic Scanner Services
Institution
Retailer and wholesaler audits
Industrial firms

Question 14

Surveys

Answer 14

Interviews with a large number of respondents using a predesigned questionnaire
Splits into:
1. Psychographics and Lifestyles (distinctive patterns of living that are described by the activities people engage in, the interests they have, and the opinions they hold of themselves and the world around them (AIOs))
2. Advertising Evaluation (assess
effectiveness of ads)
3. General Surveys (Everything else)

Question 15

Syndicated panel surveys

Answer 15

Surveys that measure the same group of respondents over time but not necessarily on the same variables

Question 16

Purchase Panel

Answer 16

A data-gathering technique in which respondents record their purchases online or in a diary

Question 17

Media Panel

Answer 17

A data-gathering technique that is comprised of samples of respondents whose television viewing behaviour is automatically recorded by electronic devices, supplementing the purchase information recorded online or in a diary

Question 18

Electronic Scanner Services

Answer 18

Volume Tracking Data
Scanner data that provide information on purchases by brand, size, price, and flavor or formulation
Scanner Panel
Scanner data where panel member are identified by an ID card allowing each panel member’s purchases to be stored with respect to the individual shopper
Scanner panel with Cable TV
The combination of a scanner panel with manipulations of the advertising that is being broadcast by cable television companies

Question 19

Institution Syndicated data

Answer 19

Retailer and Wholesaler Audits
A data collection process derived from physical records or by performing inventory analysis. Data are collected personally by the researcher or by representatives of the researcher and the data are based on counts, usually of physical objects other than people
Industry Services
Services that provide syndicated data about industrial firms, businesses, and other institutions

Question 20

Single Source Data

Answer 20

An effort to combine data from different sources by gathering integrated information on household and marketing variables applicable to the same set of respondents

Question 21

Big Data

Answer 21

Big data denotes a voluminous amount of structured, semi-structured, and unstructured data with the potential to be mined for information
Characterized by:
Volume
Velocity
Variety
Variability
Complexity
Traditional analysis methods don’t work; Machine learning and AI tending to be used for it.

Question 22

Marketing Research and Social Media

Answer 22

Rich source of internal and external secondary data
Quantitative and qualitative data otherwise unachievable by other methods