Basic Marketing Research with Excel

Business

Quiz 5 :

Information Types and Sources: Secondary Data and Standardized Information

Quiz 5 :

Information Types and Sources: Secondary Data and Standardized Information

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Describe some uses of secondary data.
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Secondary data:
Secondary data, is data collected by any person other than the researcher.
Secondary data are already published by an author or researcher. It is used in various forecasting and public sectors.
Uses of secondary data:
• Provides access to data in which the researcher does not have physical access. For example the population data of 10 years before.
• Secondary data is particularly helpful when a study needs to establish a trend over a long period.
• Particularly helpful when the research or survey is stuck due to limitations of availability.

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Go online to your library's website. Can you locate a database that would be a good choice to find publications such as journal articles, trade publications, or newspapers? What are they?
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Publications, newspapers, and Journal for business purposes are found in many Library websites.
This is made easy with the help of the search engines. You can simply type the specific area of the required data in the search engine. In library websites, many associations are ready to serve this purpose.
For example, "Journal for Electrical Engineers" provide most recent, relevant journals and publications for the readers. They can pay for the journals and get instant access for reading.
Likewise, many associations have healthy number of good and valid collection across the entire domain.
With the help of these websites, the service to the readers are made easy at the door-step and can get n number of access to provide the content without demand.
Therefore, with the help of the search engine, the library websites and the community providing details can be located easily, which is better than particularly locating a site for contents.

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What are secondary data, and how do they differ from primary data?
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Secondary data:
Secondary data, is data collected by any person other than the researcher.
Secondary data are already published by an author or researcher. It is used in various forecasting and public sectors.
Secondary data are classified into two types. They are:
• Internal data
• External data
Primary data is the collection of information by the researcher specifically for his/her own research project, in contrast Secondary data is already available and collected by any person other than researcher.
Primary data are newly prepared by a researcher for his research work and which is not already published.

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What are three types of external secondary data?
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What are the five advantages of secondary data? Discuss the disadvantages of secondary data.
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Clearly distinguish between syndicated data and standardized services.
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What are the advantages and disadvantages of syndicated data?
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Find your library's online databases and check if any of them have the ability to automatically put an article you retrieve in a format suitable for citing (e.g., MLA, APA).
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What is database marketing and what is CRM?
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What are the advantages and disadvantages of standardized services?
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Go to the website of Nielsen, at http://nielsen.com/. Select the region or country in which you live. Look at the services provided by Nielsen and read about them. Which ones would you classify as (a) syndicated data and (b) standardized services?
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Describe some areas in which standardized information may be applied.
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ESRI's market segmentation service, Tapestry™ Segmentation, would be classified as which type of standardized information? Why?
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What are the two types of standardized information?
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How would you classify secondary data?
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How would you go about evaluating secondary data? Why is evaluation important?
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Access your library's online databases. Describe how your library helps categorize the many databases such that you would know how to select databases appropriate for business.
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Describe the American Community Survey in terms of the advantage it will offer as well as how to find it to retrieve data.
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What are online information databases? Name three of them.
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Go online to your favorite search engine (e.g., Google, Yahoo) and enter "Demographics." Visit some of these sites and describe the kind of information you are receiving. Why would this information be considered secondary data?
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