MKTG 323 Exam 1 - FLASHCARDS - Session 3

Question 1

What is secondary data?

Answer 1

Data that was previously gathered by someone else for a separate purpose

Question 2

What is primary data?

Answer 2

Collection of new data gathered by you or your firm

Question 3

Why would someone use secondary data?

Answer 3

• Enables better problem definition
• Suggests further data to use
• Substitutes for primary data when you can’t get it
• Provides comparative data

Question 4

True or false: secondary data is almost always faster and less expensive than using primary data?

Answer 4

TRUE

Question 5

What is internal secondary data?

Answer 5

Data that originates within the organization for which the research is being done

Question 6

What is external secondary data?

Answer 6

Data that originates outside of the organization for which the research is being done

Question 7

What are examples of published external secondary data?

Answer 7

• Directories
• Periodicals
• Statistical Sources
• Financial Records
• SEC
• NHTSA
• US Census

Question 8

What are examples of commercial external secondary data?

Answer 8

• Geodemographic Data
• Store Audit Data
• Scanner Data
• Advertising Data
• Loyalty Card Trans

Question 9

What are examples of internal secondary data?

Answer 9

• Sales Invoice
• Salesperson’s Call Reports
• Salespeople’s Expense Accounts
• Warranty Cards
• Loyalty Card Transactions

Question 10

What is internal data that were collected for some other purpose than the study at hand?

Answer 10

Internal secondary data

Question 11

True or false: internal secondary data is less costly and most readily available of any type of marketing research?

Answer 11

TRUE

Question 12

What is this an example of: You work for Gatorade. Last year, you conducted a research study that asked consumers about various athletes to determine which athlete would be the best new celebrity endorser for Gatorade?

Answer 12

Internal secondary data

Question 13

True or false: always start with secondary data?

Answer 13

TRUE

Question 14

What are the factors that influence college student’s decision on following a brand on social media?

Answer 14

Search key words: “social media” how to attract users

Question 15

How are Nike’s celebrity endorsements perceived on social media?

Answer 15

Search keywords: Nike, “social media” “Celebrity endorsement”

Question 16

True or false: Always refer to original source of secondary data?

Answer 16

TRUE

Question 17

What can AI help with in terms of market analysis?