14 Aug Master in MarketingSubject;Data drivn mrktg rsrch & anlys.Evaluating secondary d

Master in MarketingSubject;Data drivn mrktg rsrch & anlys.Evaluating secondary dataThis week you are discovering that secondary data can be a valuable resource in informing and guiding the marketing initiatives of an organisation. Like other research processes, steps and methodologies, the evaluation of secondary data involves answering important and specific questions about marketing challenges at hand. In particular, because secondary data whether internal or external are not generated or controlled by the researcher, such data must be assessed for their relevance to the project, as well as their accuracy and currency.For this assignment, you will continue examining secondary data collection and evaluation, especially as they pertain to the smartphone campaign, think about how you, as the junior marketing executive, might interpret, utilise and ultimately present your marketing data to the CEO.To prepare for this Collaboration in 1000 words:Read the Required Learning Resources (please find below references and attached file) .Consider the ways secondary data can be evaluated for its usefulness in particular marketing efforts.Reflect on the benefits of secondary data to the smartphone research project.Provide some commentary on the secondary data that you may intend to employ.Make informed suggestions that you feel might improve the use of secondary data in the type of project undertaken by the junior marketing executive.Note; no plagiarism, stick to the below references. Other than that work will be rejected.ReferencesWilson, A.M. (2011)Marketing research: an integrated approach. 3rd ed. [Electronic Book]. Harlow: Financial Times/Prentice Hall. Chapter 3, Secondary data and customer databases (pp. 50-82)Mark as completeCheng, H.G. & Phillips, M.R. (2014) Secondary analysis of existing data: opportunities and implementation,Shanghai Archives of Psychiatry, 26 (6), pp.371-375.Use the University of Liverpool Online Library to find this article.Mark as completeGottfredson, M., Puryear, R. & Phillips, S. (2005) Strategic sourcing from periphery to the core,Harvard Business Review, 83 (2), pp.132-139.Use the University of Liverpool Online Library to find this article.Irwin, S. (2013) Qualitative secondary data analysis: ethics, epistemology and context,Progress in Development Studies,13 (4), pp.295-306.Use the University of Liverpool Online Library to find this article.Rabinovich, E. & Cheon, S. (2011) Expanding horizons and deepening understanding via the use of secondary data sources,Journal of Business Logistics,32 (4), pp.303-316.Use the University of Liverpool Online Library to find this article.Schuster, C.P., Anderson, B. & Brodowsky, G. (2014) Secondary data: collection and analysis classroom activities for learning,Journal of the Academy of Business Education,15, pp.97-118.Use the University of Liverpool Online Library to find this article.Management SchoolKey ConceptOverviewSecondary Research andPresentation of DataKMGT 714Data Driven Marketing Researchand AnalysisWeek 6 2015 Laureate Education, Inc.Page 0 of 3Key ConceptSecondary Research and Presentation of DataSecondary data are made up of information that already exists and has been collected previously.Marketing researchers can make use of this data and information, which may come from internal orexternal sources, in order to address a particular marketing problem.Internal sources of secondary data for example, an organisations database can provide extremelyuseful information for the researcher. Records of sales, customers profiles, buying behaviour and the likecan be accessed readily to inform marketing decisions. Similarly, an organisations accountingdepartment can hold information on costs, trends and break-even requirements that further enhancethese decisions.External sources of information and data are also readily available, either free of charge or for a fee.Almost every government agency, industry association and newspaper provides information for free. Youjust need to be tenacious to find the information that you require. Examples of secondary sources ofbusiness information include:Dun & BradstreetLexisNexisHooversFor general demographic information, established sources are also useful. These include:OECDEurostatThere are also many others that can be accessed to provide the marketing researcher with valuable andimportant information.Evaluating secondary dataBecause the researcher has not collected the data him/herself, caution needs to be exercised when usingsecondary data. An evaluation of secondary data includes addressing the following questions:How relevant is the data; does it suit the needs of the research project?How accurate is the data; was it collected and reported in a reliable manner?How current is the data; has it been recently collected, or is it dated?How impartial is the data; has it been collected and reported in an objective manner?Who collected the data; the authority and reputation of the researcher needs to be established.Are they or have they been in a position to provide authentic and reliable information/data?The further away a researcher is from the data, the more difficult it is to judge the quality of the data. Withthis point in mind, the final decision on the validity and reliability of secondary information lies with theresearcher.Benefits of secondary data 2015 Laureate Education, Inc.Page 1 of 3Despite these reservations, secondary data holds many benefits for the marketing researcher. Theseinclude:It can be much more efficient (time) and cheaper (cost) to collect secondary data. This isparticularly important for those organisations that are resource constrained.Secondary sources can also provide more accurate information than primary sources. This isparticularly true when the source of the secondary data is an established one, such as agovernment agency.Secondary data also play an important role in exploratory research. It allows the marketingresearcher to gain an initial understanding of a market, which in turn, can be followed up withprimary research techniques.Secondary sources also help the marketing researcher to define the population. This will thenallow the researcher to define the sample that is required for the primary research.Customer databasesBack in 1991 Jim Keyes took over as vice-president of 7-Eleven. At that time the retailerwas losing money as well as market share. To address this problem Keyes decided totake a root-and-branch approach to many aspects of what 7-Eleven did. One of theissues that Keyes addressed was customer information. One of the important decisionsKeyes made was to outsource to an outside vendor, IRI, the development andmaintenance of 7-Elevens customer database. This database held detailed informationon customer purchasing behaviour; including the mix of products that customers wantedin different locations.In addition, 7-Eleven developed partnerships with American Express, Western Union andEDS which allowed the company to get further insights into customers buying andspending behaviours.It has to be noted that whilst 7-Eleven forged these external partnerships, it maintainedproprietary ownership of the data that was collected.(Source: adapted from Strategic Sourcing from Periphery to the Core By: Gottfredson et al., 2005)The 7-Eleven example provides good insight into the importance of establishing and maintaininginformation on customers. At its simplest, a customer database is a collection of different types ofinformation on customers. The data contained in the database are then used to inform decisions. Forexample, they can be used to improve customer loyalty and retention. Having reliable and accurate datacan also contribute towards better targeting of customers.The example also shows that data can be collected from a number of different sources to contributetowards the database. If you take a common method of collecting data on customers behaviours, youneed look no further than the proliferation of customer loyalty cards, and consider the data that arecontained in these small pieces of plastic.Today, technology has facilitated the storage and analysis of customers data, as well as assisting in thedecision-making process. A cursory examination of a web search engine will indicate that customerrelation management (CRM) software is available. This software is able to both store and analyse datathat organisations have collected on customers. Like all tools of marketing research, a customerdatabases value to any organisation is its contribution to decisions that are made regarding its interactionwith customers. 2015 Laureate Education, Inc.Page 2 of 3ReferencesDun & Bradstreet (n.d.) Available from: www.dnb.com (Accessed: 27 May, 2015).Eurostat (n.d.) Available from: www.ec.europa.eu/eurostat (Accessed: 27 May, 2015).Gottfredson, M., Puryear, R. & Phillips, S. (2005) ‘Strategic sourcing from periphery to the core’, HarvardBusiness Review, 83 (2), pp.132-139.Hoovers (n.d.) Available from: www.hoovers.com (Accessed: 27 May, 2015).LexisNexis (n.d.) Available from: http://www.lexisnexis.com (Accessed: 27 May, 2015).OECD (n.d.) Available from: www.oecd.org (Accessed: 27 May, 2015). 2015 Laureate Education, Inc.Page 3 of 3Master in MarketingSubject;Data drivn mrktg rsrch & anlys.Evaluating secondary dataThis week you are discovering that secondary data can be a valuable resource in informing and guiding the marketing initiatives of an organisation. Like other research processes, steps and methodologies, the evaluation of secondary data involves answering important and specific questions about marketing challenges at hand. In particular, because secondary data whether internal or external are not generated or controlled by the researcher, such data must be assessed for their relevance to the project, as well as their accuracy and currency.For this assignment, you will continue examining secondary data collection and evaluation, especially as they pertain to the smartphone campaign, think about how you, as the junior marketing executive, might interpret, utilise and ultimately present your marketing data to the CEO.To prepare for this Collaboration in 1000 words:Read the Required Learning Resources (please find below references and attached file) .Consider the ways secondary data can be evaluated for its usefulness in particular marketing efforts.Reflect on the benefits of secondary data to the smartphone research project.Provide some commentary on the secondary data that you may intend to employ.Make informed suggestions that you feel might improve the use of secondary data in the type of project undertaken by the junior marketing executive.Note; no plagiarism, stick to the below references. Other than that work will be rejected.ReferencesMark as completeUse the University of Liverpool Online Library to find this article.Mark as completeUse the University of Liverpool Online Library to find this article.Use the University of Liverpool Online Library to find this article.Use the University of Liverpool Online Library to find this article.Use the University of Liverpool Online Library to find this article.Management SchoolKey ConceptOverviewSecondary Research andPresentation of DataKMGT 714Data Driven Marketing Researchand AnalysisWeek 6 2015 Laureate Education, Inc.Page 0 of 3Key ConceptSecondary Research and Presentation of DataSecondary data are made up of information that already exists and has been collected previously.Marketing researchers can make use of this data and information, which may come from internal orexternal sources, in order to address a particular marketing problem.Internal sources of secondary data for example, an organisations database can provide extremelyuseful information for the researcher. Records of sales, customers profiles, buying behaviour and the likecan be accessed readily to inform marketing decisions. Similarly, an organisations accountingdepartment can hold information on costs, trends and break-even requirements that further enhancethese decisions.External sources of information and data are also readily available, either free of charge or for a fee.Almost every government agency, industry association and newspaper provides information for free. Youjust need to be tenacious to find the information that you require. Examples of secondary sources ofbusiness information include:Dun & BradstreetLexisNexisHooversFor general demographic information, established sources are also useful. These include:OECDEurostatThere are also many others that can be accessed to provide the marketing researcher with valuable andimportant information.Evaluating secondary dataBecause the researcher has not collected the data him/herself, caution needs to be exercised when usingsecondary data. An evaluation of secondary data includes addressing the following questions:How relevant is the data; does it suit the needs of the research project?How accurate is the data; was it collected and reported in a reliable manner?How current is the data; has it been recently collected, or is it dated?How impartial is the data; has it been collected and reported in an objective manner?Who collected the data; the authority and reputation of the researcher needs to be established.Are they or have they been in a position to provide authentic and reliable information/data?The further away a researcher is from the data, the more difficult it is to judge the quality of the data. Withthis point in mind, the final decision on the validity and reliability of secondary information lies with theresearcher.Benefits of secondary data 2015 Laureate Education, Inc.Page 1 of 3Despite these reservations, secondary data holds many benefits for the marketing researcher. Theseinclude:It can be much more efficient (time) and cheaper (cost) to collect secondary data. This isparticularly important for those organisations that are resource constrained.Secondary sources can also provide more accurate information than primary sources. This isparticularly true when the source of the secondary data is an established one, such as agovernment agency.Secondary data also play an important role in exploratory research. It allows the marketingresearcher to gain an initial understanding of a market, which in turn, can be followed up withprimary research techniques.Secondary sources also help the marketing researcher to define the population. This will thenallow the researcher to define the sample that is required for the primary research.Customer databasesBack in 1991 Jim Keyes took over as vice-president of 7-Eleven. At that time the retailerwas losing money as well as market share. To address this problem Keyes decided totake a root-and-branch approach to many aspects of what 7-Eleven did. One of theissues that Keyes addressed was customer information. One of the important decisionsKeyes made was to outsource to an outside vendor, IRI, the development andmaintenance of 7-Elevens customer database. This database held detailed informationon customer purchasing behaviour; including the mix of products that customers wantedin different locations.In addition, 7-Eleven developed partnerships with American Express, Western Union andEDS which allowed the company to get further insights into customers buying andspending behaviours.It has to be noted that whilst 7-Eleven forged these external partnerships, it maintainedproprietary ownership of the data that was collected.(Source: adapted from Strategic Sourcing from Periphery to the Core By: Gottfredson et al., 2005)The 7-Eleven example provides good insight into the importance of establishing and maintaininginformation on customers. At its simplest, a customer database is a collection of different types ofinformation on customers. The data contained in the database are then used to inform decisions. Forexample, they can be used to improve customer loyalty and retention. Having reliable and accurate datacan also contribute towards better targeting of customers.The example also shows that data can be collected from a number of different sources to contributetowards the database. If you take a common method of collecting data on customers behaviours, youneed look no further than the proliferation of customer loyalty cards, and consider the data that arecontained in these small pieces of plastic.Today, technology has facilitated the storage and analysis of customers data, as well as assisting in thedecision-making process. A cursory examination of a web search engine will indicate that customerrelation management (CRM) software is available. This software is able to both store and analyse datathat organisations have collected on customers. Like all tools of marketing research, a customerdatabases value to any organisation is its contribution to decisions that are made regarding its interactionwith customers. 2015 Laureate Education, Inc.Page 2 of 3ReferencesDun & Bradstreet (n.d.) Available from: www.dnb.com (Accessed: 27 May, 2015).Eurostat (n.d.) Available from: www.ec.europa.eu/eurostat (Accessed: 27 May, 2015).Gottfredson, M., Puryear, R. & Phillips, S. (2005) ‘Strategic sourcing from periphery to the core’, HarvardBusiness Review, 83 (2), pp.132-139.Hoovers (n.d.) Available from: www.hoovers.com (Accessed: 27 May, 2015).LexisNexis (n.d.) Available from: http://www.lexisnexis.com (Accessed: 27 May, 2015).OECD (n.d.) Available from: www.oecd.org (Accessed: 27 May, 2015). 2015 Laureate Education, Inc.Page 3 of 3

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.