Chapter 6 Marketing Research

Front 1

Secondary Data in Marketing Research

Back 1

Secondary Data are data gathered and recorded by someone else prior to and for a purpose other than the current project.

Front 2

Advantages Of secondary Data

Back 2

Available
Faster and less expensive than acquiring primary data
Requires no access to subjects
Inexpensive—government data is often free
May provide information otherwise not accessible

Front 3

Disadvantages of secondary data

Back 3

Uncertain accuracy
Data not consistent with needs
Inappropriate units of measurement
Time period inappropriate (outdated)

Front 4

Data transformation

Back 4

The process of changing the original form of the data to a format suitable to achieve the research objective.

Front 5

Cross-checks

Back 5

comparing data from one source with data from another source to determine the similarity of independent projects

Front 6

Fact Finding

Back 6

Identification of consumer behavior for a product category

Front 7

Trend Analysis: Market tracking

Back 7

the observation and analysis of trends in industry volume and brand share over time.

Front 8

Environmental Scanning

Back 8

Information gathering and fact-finding that is designed to detect indications of environmental changes in their initial stages of development.

Front 9

What does secondary research show?

Back 9

Secondary research shows that services and value are most important to consumers.

Front 10

Model Building

Back 10

Estimating market potential for geographic areas
Forecasting sales

Front 11

Site analysis techniques

Back 11

use secondary data to select the best location for retail or wholesale operations.

Front 12

Index of retail saturation

Back 12

a calculation that describes the relationship between retail demand and supply.

Front 13

Calculating Index of retail saturation

Back 13

Population* anual per capita/Local market retail space.

Front 14

Data Mining

Back 14

The use of powerful computers to dig through volumes of data to discover patterns about an organization’s customers and products; applies to many different forms of analysis.

Front 15

Neural Network

Back 15

A form of artificial intelligence in which a computer is programmed to mimic the way that human brains process information.

Front 16

Market-Basket Analysis

Back 16

a form of data searching that analyzes anonymous transaction databases to see related purchases or similarities between products and retail information.

Front 17

Customer Discovery

Back 17

Involves mining data to look for patterns identifying who is likely to be a valuable customer.

Front 18

Database Marketing

Back 18

The use of customer relationship management (CRM) databases to promote one-to-one relationships with customers and create precisely targeted promotions.

Front 19

The practice of maintaining a customer database of:

Back 19

Names and addresses
Past purchases
Responses to past efforts
Data from numerous other outside sources

Front 20

Internal data

Back 20

Data that originate in the organization and represent events recorded by or generated by the organization

Front 21

Proprietary Data

Back 21

Secondary data owned and controlled by the organization

Front 22

Enterprise search

Back 22

A search driven by an Internet-type search engine that focuses on data within an organization’s internal network.

Front 23

Uncle Sam Finds You!

Back 23

The Department of Defense’s Joint Advertising, Market Research & Studies (JAMRS) project operates over a dozen research initiatives that make data available to military recruiters.

Front 24

External Data

Back 24

Generated or recorded by an entity other than the researcher’s organization

Front 25

Single-Source Data

Back 25

Diverse types of data offered by a single company.
Usually integrated on the basis of a common variable (i.e., geographic area or store). (simple data)