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Chapter. 7. Standardized Information Sources. What is standardized information?. Standardized information: type of secondary data in which the data collected and/or the process of collecting data are standardized for all users

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  1. Chapter 7 Standardized Information Sources

  2. What is standardized information? • Standardized information:type of secondary data in which the data collected and/or the process of collecting data are standardized for all users • 1. Syndicated data: data that are collected in a standard format and made available to all subscribers, i.e. Nielsen Television Index • 2. Standardized services:a standardized marketing research process that is used to generate information for a particular user, i.e. ACORN segmentation system

  3. ACNielsen’s Scantrack Services collects scanning data weekly from over 4800 stores and makes this data available to all who subscribe to their service. This is an example of syndicated data; data arethe same for all subscribers.Read more about this service at:http://www.acnielsen.com/products/reports/scantrack/

  4. PRIZM; identifies target customers at the census block level MicroVision Banking; Classifies all households into 31segments based upon financial services ConneXions; classifies households for video, voice and data services Go to www.claritas.com to see their many other services Claritas offers Standardized Information Services(process is same; data are different)

  5. Advantages of Standardized Information Syndicated Data • Shared costs • High quality of data • Speed with which data are collected and made available for decision making

  6. Disadvantages of Standardized Information Syndicated Data • Little control over what data are collected • Buyers must commit to long-term contracts • Competitors have access to the same information

  7. Advantages of Standardized Services • Using the experience of the firm offering the service • Reduced cost • Increased speed of conducting the service

  8. Disadvantages of Standardized Services • Inability to customize services • Service firm may not have knowledge of the client’s industry

  9. Application Areas of Standardized Information • Define market segments • Provide information on members of the industrial market • SIC • NAICS • Dun’s Market Identifiers

  10. Application Areas of Standardized Information • Measuring consumer attitudes; opinion polls • Yankelovich Monitor (changing social values and impact on consumers) • Harris Poll (consumer attitudes on broad spectrum of issues: the economy, the environment, politics, world affairs, etc.) • Gallup Poll (public opinion on domestic issues, private issues, and world affairs)

  11. Application Areas of Standardized Information…cont. • Providing information on members of the consumer market • VALS-2 (lifestyle measure) • GIS (Geodemographic Information Systems) • Geodemographics is the classification of arbitrary, usually small, geographic areas in terms of characteristics of their inhabitants. • PRIZM (neighborhood demographic/behavioral clusters) • Conducting market tracking • Tracking studies are those that monitor, or track, a variable such as sales or market share over time.

  12. Application Areas of Standardized Information…cont. • Market tracking at the retail level • ACNielsen Scantrack Services (4800 outlets) • InfoScan Syndicated Data Service (32,000 o’s) • Retail Store Audits (BI + NI – EI = Sales) • Market tracking at the household level • Infoscan’s Combined Outlet Consumer Panel • ACNielsen Homescan Panel (panel members scan at home) • Diary (panel member keeps diary) • Audit (auditors come into home)

  13. Application Areas of Standardized Information…cont. • Monitoring media usage and promotion effectiveness • Television • Nielsen Television Index (NTI) • Radio • Arbitron • Print • RoperASW’s Starch Readership Service • Multimedia • Simmons Study of Media and Markets

  14. Single-Source Data • Single source data: measures promo exposure and buying behavior data on several variables such as promotional message exposure and where this occurs, demographics, and buyer behavior • BehaviorScan: A panel in which consumers may be sent test tv commercials; panel member cards are shown at supermarket checkout. This gives IRI ability to see what consumers buy as a result of different tv ads and in-store promotions.

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