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BMKT 312 F13 C5 Review

3 what are the classes of secondary data secondary

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Unformatted text preview: 3. What are the classes of secondary data? Secondary data fall into the following classes: • • Internal secondary data are data that have been collected within the firm. Such data include sales records, purchase requisitions, and invoices. External secondary data are data obtained from outside the firm from three sources: (1) published, (2) syndicated services data, and (3) databases. 4. What is a database, and what are the components of a database? A database is a collection of data and information describing items of interest. Each unit of information in a database is called a record. A record could represent a customer, a supplier, a competitive firm, a product, an individual inventory item, and so on. Records are composed of subcomponents of information called fields. There can be multiple pieces of information (fields) for each record. 5. What are some examples of how companies may use a database? Identify prospects, such as sorting through replies to company ads to identify customers who can be targeted with more information Decide which customers should receive a particular offer, such as sending a crossselling suggestion two weeks after a sale BMKT 312 C5 Study Guide 1 Deepen customer loyalty by remembering customer preferences and sending appropriately customized materials reflecting those preferences Reactivate customer purchases, such as automatically sending out a birthday card Avoid serious customer mistakes, such as charging a late fee to one of th...
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