Slide 1Slide 2The Value of Secondary DataRole of Secondary Data in MRAdvantagesResearch Realities: Where To Find ItBest 100 Sources for Marketing InformationInformation VenuesShortcomings of Secondary DataThe Nature and Scope of Secondary DataThe Functional Roles of Secondary Data ResearchThe Presence of Secondary Data in Marketing ResearchThe Principles Used to Assess Secondary DataAssessing Secondary DataCiting Secondary Data SourcesCommon Sources of Internal Secondary DataSlide 17Slide 18Additional Sources of Secondary DataSlide 20The GO-CART Approach to Secondary DataKey Variables Sought in Secondary Data ScansSlide 23Common Government Documents Used as Secondary Data SourcesSlide 25Buying Power IndexThe North American Industry Classification System (NAICS)The NAICS Six-Digit CodesSyndicated Sources of Secondary DataSyndicated Sources of Secondary Data (cont.)The Future of Secondary Data SourcesSummary of Learning Objectives1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved.1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. CCHHAAPPTTEERR1234 0001 897251 0000044Strategic Information Strategic Information Management: Secondary Management: Secondary Data SourcesData Sources4-24-21995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. The Value of Secondary DataCustomer-volunteered information (customer knowledge information) can be captured from chat sessions, e-mail comments, customer usability labs, and electronic customer panels and councils.It’s readily available!It’s highly valid! It’s relatively inexpensive, if it costs anything at all!4-34-31995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. Role of Secondary Data in MRSecondary data: Data that have already been collected for a purpose other than the current study.In 2000, secondary data supported the majority of marketing research due to giant expansion in databases and other computerized informational sources.1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. AdvantagesTime savingsRelevanceAvailabilityCan be obtained in a short period of timeLow costAccessibilityComplements primary data1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. Research Realities: Where To Find It1. The product or service must include unique demographic information that is updated regularly.2. The information must be available to anyone willing to pay for it.3. The information musts extend beyond a single state, except for California.4. The product or service must be at least one year old.5. The provider must offer a high level of customer service.American Demographics published a list of the “Best 100 Sources for Marketing Information.” It bases its selections on:1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. The Arbitron CompanyBureau of Labor StatisticsBureau of Transportation StatisticsCensus BureauThe Conference BoardDonnelley MarketingDun & BradstreetHispanic Market Connections, Inc.Immigration and Naturalization ServiceInternal Revenue ServiceMaritz Marketing Research, Inc.Metropolitan Life Insurance Co.Nielsen Media ResearchJ.D. Power & AssociatesRoper Starch WorldwideSocial Security AdministrationSRI InternationalTeenage Research UnlimitedTotal Research CorporationU.S. Postal ServiceThe entire list of 100 sources may be obtained from the January 1995 issue. Here are 20 of the top 100:Best 100 Sources for Marketing Information1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. Information VenuesCD-ROMCompact Disk-Read Only MemoryElectronic storage medium that can store over 500 times more than a floppy diskette and is more durableReadable-writeable optical technology now allows users to read and write information on CD-ROMsCensus Data1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. Shortcomings of Secondary DataMay be inaccurateMay be inconsistentMay be inconvenient to compareMay be inaccessible1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. The Nature and Scope of Secondary Data Secondary data is data not gathered for the immediate study at hand but for some other purpose. Internal secondary data refers to the data collected by the individual business enterprise for accounting purposes or tracking marketing activities. External secondary data refers to data captured by “outside” entities such as trade associations and the government. Customer knowledge data is the “good stuff” – information offered up which is unsolicited and can be used for the purposes of marketing planning.4-44-41995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. The Functional Roles of Secondary Data Research4-54-5Secondary Research TasksExternal Market DataTrend AnalysisBusiness IntelligenceCompetitive IntelligenceExternal Customer DataCurrent CustomersNew CustomersNeeds AnalysisCustomer KnowledgeInformationInternal Support DataPrimary Research SupportPresentation SupportDecision-making Support1995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. The Presence of Secondary Data in Marketing ResearchA survey of marketing research firms conducted by The Society of Competitive Intelligence Professionals revealed the following exciting facts:I. 82% use secondary data to monitor competitive and business intelligence.II. 75% use secondary data to substantiate primary research.III. 59% use secondary data to add value to presentations.IV. 57% use secondary data for specific business decisions.V. 48% use secondary data to validate internal data and primary data collection.4-64-61995 7888 4320 000 000001 00023Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. The Principles Used to Assess Secondary Data Purpose: Relation to current research objective. Accuracy: how, when the data collected. Consistency: Look for multiple sources. Credibility: Reputation and expertise of the organization. 