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Chapter. 6. Secondary Data and Online Information Databases. Classification of Secondary Data. Internal secondary data: data that have been collected within the firm

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  1. Chapter 6 Secondary Data and Online Information Databases

  2. Classification of Secondary Data • Internal secondary data: data that have been collected within the firm • Internal databases: databases (collection of data and information describing items of interest) consisting of information gathered by a company typically during the normal course of business transactions (such as customer databases, suppliers databases, inventory databases, etc.

  3. Classification of Secondary Data…cont. • External secondary data: data obtained from outside the firm • Types: • Published • Syndicated Services Data • External Databases • Census.gov.;stat-usa.gov.; • Fedstat.gov.;factiva

  4. Classification of Secondary Data…cont. Types of External Secondary Data • External secondary data • Published: sources of information prepared for public distribution and found in libraries or a variety of other entities • Syndicated Services Data: data provided by firms that collect data in a standard format and make them available to subscribing firms for a fee.

  5. Classification of Secondary Data…cont. Types of External Secondary Data • External secondary data • External Databases: databases provided by outside firms; many are now available online (online information databases ): • Bibliographic databases • Numeric or statistical databases • Directory or list databases • Comprehensive databases

  6. Advantagesof Secondary Data • Obtained quickly • Inexpensive • Usually available • Enhances existing primary data

  7. Disadvantages of Secondary Data • Mismatch of the units of measurement • Differing definitions used to classify the data • Timeliness of secondary data • Lack of information needed to assess the credibility of the reported data

  8. 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?

  9. Locating Secondary Data Sources • Step 1: Identify what you wish to know and what you already know about your topic. • Step 2: Develop a list of key words and names. • Step 3: Begin your search using several library sources. • Step 4: Compile the literature you have found and evaluate your findings.

  10. Locating Secondary Data Sources…cont. • Step 5: If you are unhappy with what you have found or are otherwise having trouble and the reference librarian has not been able to identify sources, use an authority. • Step 6: Report results.

  11. Key Sources of Secondary Data for Marketers Survey of Buying Power • Effective Buying Income (EBI) • Buying Power Index (BPI) • How to calculate BPI: • BPI = (Population of Market Area A/Total U.S. Population * 2) • + (EBI of Market Area A/Total U.S. EBI) * 5 • + (Retail Sales of Market Area A/Total U.S. Retail Sales) *3 • Published by: Sales and Marketing Management magazine annually on August issue.

  12. Breakdown including: Total Business BPI, High tech BPI, Manufacturing BPI, BPI for high tech markets, etc. Demographics USA

  13. Please read Case 6.2 on p.174 Analyze the case and answer questions 1, 2, 3, and 4. Case 6.2 The Hobbit’s Choice

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