Marketing Research Ch6
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What is considered secondary data?
1. Secondary Data
- Data gathered and recorded by someone else
prior to and for a purpose other than
the current project.
2. Data conversion
(a.k.a: data transformation
) - The process of changing the original form
of the data to a format suitable to achieve the research objective.
- The comparison of data
from one source with data from another source to determine
the similarity of independent projects.
What are the advantages of secondary data?
1. Readily available
2. Faster and less expensive
than acquiring primary data
- 3. Requires no access to subjects
—government data is often free
5. May provide information otherwise not accessible
What are the disadvantages of secondary data?
2. Data not consistent with needs
3. Inappropriate units of measurement
4. Time period inappropriate (outdated)
What are the 3 Typical Objectives for Secondary-Data Research Designs?
- • Fact Finding
- • Model Building
- • Data Mining
What is fact finding?
1. Identification of consumer behavior
for a product category
2. Trend Analysis
- Market tracking—the observation and analysis of trends in industry volume and brand share over time.
What is model building?
What is the formula for Index of retail saturation?
Index of retail saturation = Local Market Potential (Population x possible sales) / Local Market Retailing Space
What is data mining?
- 1. Data Mining - The use of powerful computers to dig through volumes of data to discover patterns
about an organization’s customers and products; applies to many different forms of analysis.
- 2. Neural Network - A form of artificial intelligence in which a computer is programmed to mimic the
way that human brains process information
What would you like to do?
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