MKT 500 Chapter Notes - Chapter 5: Customer Relationship Management, Micromarketing, Data Mining

• School: Ryerson University
• Department: Marketing
• Course: MKT 500
• Professor: Julie Kellershohn

Document Summary

Primary data: information that is developed or gathered by the researcher specifically for the project at hand. Secondary data: have previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand. There re so many uses of secondary data that it is rare for a marketing research project to be conducted without including some of this information. The applications of secondary data range from predicting broad changes in a culture"s way of life to specific applications: suggested applications include: Database: a collection of data and information describing terms of interest. Record: each unit of information in a database. Internal database: consists of information gathered by a company, typically during the normal course of business transactions: companies use internal databases for purposes of direct marketing and to strengthen relationships with customers (customer relationship management, crm)