MKT 201 Chapter Notes - Chapter 10: Panel Data, Data Mining, Focus Group

• School: University of Miami
• Department: Marketing
• Course: MKT 201
• Professor: Smita Kulkarni

Document Summary

Secondary data pieces of information that have been collected prior to the start of the focal research project; includes both external and internal data sources. Primary data data collected to address specific research needs; include focus groups, in-depth interviews, and surveys. Participants can openly share their frustrations, difficulties, advice, etc. about a certain product, service, need, want, etc. By monitoring these sites, companies can gather the most up-to-date information about their company, products, services, and information about their competitors. Allows them to learn a(cid:271)out thei(cid:396) (cid:272)usto(cid:373)e(cid:396)s" pe(cid:396)(cid:272)eptio(cid:374)s: sentiment mining firms collect consumer comments about companies and their products on social media sites such as facebook, twitter, and online blogs. The data is then analyzed to distill customer attitudes toward and preferences for products and advertising campaigns. Sentiment mining yields qualitative data that provides new insight into what consumers really think.