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4: Secondary Data and Sources

4: Secondary Data and Sources. Purpose Accuracy Consistency. Credibility Methodology Bias. Assessing Quality of Secondary Data. Nature and Scope of Secondary Data. Internal. External. Sales invoices Sales activity reports Online registrations Warranty cards Clickstream Data

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4: Secondary Data and Sources

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  1. 4: Secondary Data and Sources

  2. Purpose Accuracy Consistency Credibility Methodology Bias Assessing Quality of Secondary Data

  3. Nature and Scope of Secondary Data Internal External

  4. Sales invoices Sales activity reports Online registrations Warranty cards Clickstream Data Online Analytics (i.e. Google Analytics) Customer letters/ comments / e-mails Social Media data (“found data”) Warranty cards Past studies Other Some Sources of Internal Secondary Data

  5. Store Audits • Examination of how much of a particular product or brand has sold at retail • Product sales in relation to competition • Effectiveness of shelf space/POP displays • Sales at various price points • Effectiveness of POS and non-POS offers • Sales by store type, location, channel, etc.

  6. Primary Sources of External Data Published data Compiled data (fee) Data available in online databases

  7. External Secondary Data Sources • Government Studies & Reports (i.e. census data) • Business sources • Editors and Publishers Market Guide • Source Book of Demographics and Buying Power for Every Zip Code in the USA • IDS and Gartner Group (technology) • Neilsen/IRI (consumer products & media)

  8. External Secondary Data Sources, cont. • Statistical sources of information • Standard and Poor’s Industrial Surveys • American Statistics Index • Statistical Reference Index • Commercial publications and newspapers (WSJ, NYT)

  9. Syndicated Sources • Commercial vendors collect information and sell the reports • 80%+ of firms said they • purchase and use reports • spend 10 hours per week analyzing this information • spend an annual average of $15,000 on syndicated sources

  10. Benefits Lower cost than other methods Rapid availability and timeliness Accurate reporting of sensitive purchases High level of specificity Risks Sampling error (low minority representation) Turnover of panel members Response bias – “inbreeding” effects Consumer Panels

  11. NPD Group

  12. Neilsen Panels

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