Chapter+4


 * Chapter 4 - Using Secondary Data and Online information Databases**

__//1.1 - Describe how secondary data may add value to primary data.//__

Secondary data can identify: • Concepts • Data • Terminology

Secondary data can familiarize the researcher with the industry by: • Including sales and profit trends • Addressing major competitors in the industry • Address significant issues facing the industry

__//2.1 - What are the five advantages of secondary data? Discuss the disadvantages of secondary data.//__

1. Secondary Data Are Obtained Quickly • Contrast primary data which may take several months • Internet = Free
 * Advantages:**

2. Secondary Data Are Inexpensive Relative to Primary Data • Primary data seldom achieved without spending thousands, hundreds of thousands, or millions of dollars • Purchasing secondary data is relatively inexpensive in compared to collecting primary data

3. Secondary Data Are Usually Available • Availability predicts a growth in importance • Not only growth in amount of data, but ability to search billions of databases with use of technology

4. Secondary Data Enhance Primary Data • //See answer 1.1//

5. Secondary Data May Achieve the Research Objective • Data may be available to satisfy research objective

1. Incompatible Reporting Units • County, City, Metro Area, Province, Region, Postal Code • Secondary data may not be appropriate for research objective
 * Disadvantages:**

2. Measurement Units Do Not Match • Secondary data sources do not meet researchers needs • Ie) report may state household income and researcher needs per capita income

3. Class Definitions Are Not Useable • Providing a variable among different classes • Ie) secondary data for % of household income > $50,000+ and research objective needs % of household incomes >$80,000+ __only__

4. Data Are Outdated • Time passed since last publication can pose a problem when the data are applied to a current problem

Answer the following 5 questions:
 * __2.2 How would you go about evaluating secondary data? Why is evaluation important?__**
 * 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?

In order to successfully analyze secondary data, it is important to have a full understanding of the above 5 questions. It is important to know HOW to interpret the information you have found. Example: the purpose of the study conducted is probably different then the research you are doing. Or, if the information is significantly different then all of the other results you researched, chances are the data isn’t reliable. __**3.2 What is a standard subject heading? Explain why knowing how to find a standard subject heading would help increase your information searching skills when using online information databases.**__

Standard subject heading- specific words that are used to properly categorize the subject matter of records as they are entered into databases. (Pg 129)
 * Using the drop down menu you can choose subject and type in what you feel the document may be filed under
 * By using a standard subject heading, you are specifying your search, and eliminating any documents that are irrelevant

//__ 4.2 Distinguish between syndicated data and standardized services. Consider advantages and disadvantages. __// Are data that are collected in a standard format and made available to all subscribers.
 * __ Definitions __**
 * //__ Syndicated Data: __//**

Refers to a standardized marketing research process that is used to generate information for a particular user.
 * //__ Standardized Services: __//**


 * __ Advantages and Disadvantages of Standardized Information __**


 * //__ Syndicated Data: __//**


 * Advantages  ||   Disadvantages   ||
 * One of the key advantages – shared costs ||

Buyers have little control over what information is collected. || Routinized systems used to collect and process the data || Buyer firms often must commit to long-term contracts when buying syndicated data || There is no specific strategic information advantage in purchasing syndicated data ||


 * //__ Standardized Services: __//**
 * Advantages  ||   Disadvantages   ||

Key advantage – taking advantage of the experience of the research firm offering the service ||

“Standardized” means “not customized” ||

Reduced cost of the research ||

Client is burdened with the responsibility of ensuring that the standardized service fits the intended situation ||

Speed || ||