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Chapter 4

Chapter 4 - Using Secondary Data and Online Information Databases

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Ryerson University
MKT 500
Helene Moore

Wk. 4 - Chapter 4 – Using secondary data and online information databases Lecture at: September 25, 2012 Secondary data - Primary data: information that is developed or gathered by the researcher specifically for the research project at hand - Secondary data: information previously gathered by someone other than the researcher and/or for some other purpose than the research project at hand Classification of secondary data - Internal secondary data: collected within the firm o Database marketing: process of building, maintaining, and using customer (internal) databases and other internal databases (products, suppliers, resellers) for the purpose of contacting, transacting, and building relationships - Internal databases: o Database: refers to a collection of data and information describing items of interest o Record: each unit of information in a database o Fields: subcomponents of information within a record o Internal databases: consist of information gathered by a company during the normal course of business transactions o CRM is used for direct marketing and to strengthen relationships with customers o Data mining: analyzing data for trends or patterns o Text mining: growing type of data mining analysis – includes text from both internal and external data sources - External secondary data: obtained from outside the firm o Published o Syndicated services data  Form of standardized data. Highly specialized and not available in libraries for the general public o Databases Advantages of secondary data - Quickly obtained - Inexpensive relative to primary data - Usually available - Enhance primary data - May achieve the research objective Disadvantages of secondary data - Incompatible reporting units - Measurement units do not match - Class definitions not usable - Data are outdated Evaluating secondary data - What was the purpose of the study? - Who collected the information? - What information was collected? - How was the information obtained? - How consistent is the information with other information? Locating secondary da
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