Syndicated Data

Question 1

DEFINITION: Syndicated Data

Answer 1

Common pools of data that have a known commercial value that is collected and sold

Question 2

CLASSIFICATION: Syndicated Data

Answer 2

HOUSEHOLD/CONSUMER
Surveys: Physographic/Lifestyles, advertising evaluation, general
Panels: Purchase & Media
electronic Scanner Services: Volume Tracking Data, Scanner Panels, Scanner Panes with Cable TV
INSTITUTIONS
Retails/Wholesales: Audits
Industrial Firms/Organisations: Direct inquiries, Clipping Services, Corporate Reports

Question 3

SYNDICATED DATA: Panels

Answer 3

PROCESS - Record purchases and behaviour in diary/over internet.
MAKEUP - Representative of the target population in terms of demographics.
Electronic recording methods have made more accurate.
Useful for estimating market share, forecasting sales, assessing brand loyalty.

Question 4

SYNDICATED DATA: Surveys

Answer 4

Can be used for marget segmentation, consumer profile development or determining consumer preferences.
PROS: Very flexible regarding content and aids, enables targeting of respodnents with specific characteristics
CONS: Data may not be accurate, ncorrect recollection or pressured answering from respondents, questions may be biased, results misinterpreted.
PANELS ARE BEST

Question 5

SYNDICATED DATA: Purchase Panels

Answer 5

Physical recording of purchase habits.

Question 6

SYNDICATED DATA: Media Panels

Answer 6

Electronic recording of media consumption. Television, Radio, Internet, Mobile.

Question 7

SYNDICATED DATA: Pros & Cons

Answer 7

PROS: accuracy of datam generation of longitudinal data, reduce recall errors and human error
CONS: might not be representative of larger population, response errors inherent in maintaining a panel. Underrepresented society groups, time committment of participant.

Question 8

SYNDICATED DATA: Scanner Data

Answer 8

PROS: prompt feedback, most accurate, less response bias and recall error, store variables recorded.
CONS: lack of representiveness of WHOLE industry Only as good as scanning process

Question 9

SYNDICATED DATA: Audit Data

Answer 9

PROS: Relatively accurate information of many products at wholesale and retail levels
CONS: Limited retail coverage, delay due to compiling and reporting, not linkd to consumer characteristics.