Chapter7 - Standardized Information Sources What is...

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Standardized Information Sources
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Ch 7 2 What is Standardized Information? Standardized information is a type of secondary data in which the data collected and/or the process of collecting the data are standardized for all users. Two broad classes: Syndicated data Standardized services
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Ch 7 3 Types of Standardized Information Syndicated data are data that are collected in a standard format and made available to all subscribers. Example: The Nielsen TV Ratings
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Ch 7 4 Types of Standardized Information Standardized services refers to a standardized marketing research process that is used to generate information for a particular user. ESRI’s Community Tapestry
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Ch 7 5 Advantages of Syndicated Data Advantages: Shared costs Quality of the data collected is typically very high. Data are normally disseminated very quickly.
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Ch 7 6 Disadvantages of Syndicated Data Disadvantages: Buyers have little control over what information is collected. Firms often must commit to long- term contracts. No strategic information advantage in purchasing syndicated data.
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7 Advantages of Standardized Services Advantages: Taking advantage of the experience of the research firm offering the service. Reduced cost.
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This note was uploaded on 04/14/2009 for the course MKT 232 taught by Professor Staff during the Spring '08 term at Illinois State.

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Chapter7 - Standardized Information Sources What is...

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