MR Chapters 5 & 6

Sources of secondary data:

Internal records (sales results, marketing activity, cost info, etc), and external sources (standardized sources of mktg data, and the internet)

Data consists of:

Secondary data (facts and figures already recorded prior to the project), and primary data (facts and figures newly collected for the project)

Benefits of scanner data:

high degree of accuracy, time saving, ability to study very short time periods of sales activity

Institutional data:

may be obtained from retailers, wholesalers, or industrial firms

Household/consumer data:

may be obtained from surveys, diary panels, or electronic scanner services

Applications of standardized data:

measuring promotion effectiveness (scanner data, consumer panels), estimation & evaluation of models (consumer panels, retail audits, scanner data, internal records), measuring ad exposure and effectiveness (starch scores, nielsen audio, multimedia services, NTI), measuring product sales & market share (scanner data, consumer panels, internal records)

Published data:

most valuable data for marketing researchers, most popular source of mktg info (readily available, sufficient to answer research q's)

Contributing factors of growth of standardized sources:

multitude of info users having info needs, when cost of satisfying individual user's need is prohibitive, and the increasing use of scanner systems at check out points

Media-related standardized sources:

nielsen television index (national tv audiences), nielsen audio (both regional and national radio and podcast), starch scores (print media), simmons multi media services (magazine, tv, newspaper, radio)

Primary data consists of:

observational data (watching people) and questionnaire data (asking people)

Households/ consumer units of measurement are:

panels, collected by purchase or media

Scanner data examples:

product purchasing records, product price, consumer response to coupons, shelf space & display, cooperative advertising

Customer database:

raw info on customer that can be sorted and enhanced to produce useful info.

Examples of consumer purchase panels info:

representative sample of households, records all purchases made over time (in home audits and mail diary), records all coupons used)

The 5 major standardized sources:

retail store audits, consumer panels, scanner data, single source systems, media-related standardized data

Institutions units of measurements are:

retailers, wholesalers, industrial firms, collected by audits

Secondary data consists of:

Internal data (inside the firm), and external data (outside the firm)

Criteria for evaluating secondary data:

Availability, relevancy, accuracy, sufficiency

Problems using internal data effectively:

Data format issue (often highly aggragated, requires understanding of cust behavior), and data quality issue (reports of salespeoples call activities can be exxagerated)

Benefits of Google Analytics:

Google analytics makes it possible for advertisers, publishers, and website owners to improve their online results, helps marketers in: targeting consumers, managing online adv, understanding regional distribution of visitors

Uses of secondary data:

Identify the problem, better define the problem, formulate an appropriate research design (by identifying key examples), answer certain research questions, interpret data more insightfully

Secondary is:

Not collected specifically for your problem/purpose, already exists, and may provide enough info to resolve the current problem

Primary Vs. Secondary data:

Primary data: for the problem at hand, very involved, high collection cost, long collection time Secondary data: for other problems, rapid and easy, relatively low cost, short collection time

Benefits of consumer panels data:

Provide info on: aggregate sales activity (forecast sales), brand shares, shifts in buyers characteristics, types of retail outlets Provide sequence of purchases in order to analyze: heavy buyers and their characteristics, brand switching rates, cumulative market penetration, promotion effectiveness

Limitation of consumer panels data:

Selection bias (high refusal rates), lack of representativeness of entire pop. (under represent minorities), mortality effect (dropout rate in excess of 20% annually), testing effects (new members report unusual levels of purchasing, missing purchases)

Examples of external data:

U.S. census reports, trade association studies and magazines, business periodicals, and internet based reports

Scanner data:

Universal product code (UPC) scanner system provides data of behaviors of individual households and impacts of marketing activities on sales/revenue

Retail store audits tell you:

What's happening "on the ground" (how much product is moving through distribution channel, and observable info: shelf prices, displays, etc)

Can internal and external data be combined?

Yes

Google analytics:

a free website statistics solution that gives rich insights into web traffic and mktg effectiveness, most widely used website statistics service, allows businesses to see various analytics

Benefits of single source systems:

availability of extensive pre-test records, immediate availability of test results, ability to compare purchases of households prior to and after exposure to message, ability to control settings

Syndicated sources can be classified:

based on the unit of measurement, (households/ consumers or institutions)

Consumer purchase panels:

can cover the gap between store audits and actual purchases (consumer characteristics)

Limitations of Single source systems:

can track purchases. only at stores equipped with scanners, no info on whether viewers actually watch or just leave the tv on, chance of biased results

Syndicated sources are:

companies that collect and sell common pools of data of known commercial value designed to serve a number of clients

Secondary research on the internet:

custom search services (collect relevant data for you with a fee), agents( program tool that constantly downloads pricing data from internet), leveraging web analytics for marketing

benefits of customer database:

customer transaction records can help: understand cust preferences and purchase behaviors, and segment customers (loyal, profitable, etc)

Internal sources of secondary data:

data on inputs (budgets, call records), data on outcomes (billing on shipments, sales reports), costs, customer feedbacks

Internal records:

data originated, created, or generated in the org

Criteria for evaluating secondary data:

data should be reliable, valid, and generalizable to the problem at hand. you also must assess accuracy by comparing data from diff sources

Standardized sources are major standardized sources of mktg data & contain:

data that have been compiled according to some standardized procedure, and data primarily provided by external sources

Purpose of internal records:

define the competitive position of the firm, an evaluation of a marketing strategy the firm has used in. the past, or gaining a better understanding of the company's best customers

Data:

facts & figures pertinent to the problem

Examples of internal data:

financial statements, research reports, files, customer letters, etc

Criteria definitions:

specifications: methodology used to collect the data error: accuracy of the data currency: when the data were collected objectives: the purpose for which the data were collected nature: the content of the data dependability: overall, how dependable is the data

Benefits of retail store audits:

store audits are primarily used to measure a retailers effectiveness and efficiency, and gathering this info can improve business and bottom line

Applications of scanner data:

study consumer behavior and consumer response to different marketing mix strategies (price, product, place, promotion) and study and forecast sales of new products

More criteria:

the objective will determine the relevance of the data, data should be obtained from an original source rather than an acquired source

Single-source systems:

usually set up in self-contained places with their own newspapers and cable tv and are roughly representative of the demographics of the country, a test panel is recruited and monitored for recording exposure to programming and specific commercials, each member is provided an identification card for presenting at scanner equipped stores