Exam 7: Standardized Information Sources

Single-source data refers to the practice of buying all a firm's information from one, single syndicated data firm, thus allowing for a substantial quantity discount in most cases.

MRI's Starch Readership Service specializes in determining the extent that magazine ads are seen and read.

If a firm were interested in obtaining information on several media such as magazines, Sunday magazines, newspapers, television, radio, cable, outdoor, and Yellow Pages, it could use the personal portable meter.

Syndicated data are data that are collected in a standard format and made available to all subscribers. Such data are stored in a common database and the same data are made available to subscribers for a fee.

The Maritz Poll samples consumers and asks them different questions for each poll they take. The Maritz Poll is an example of:

Which item below is NOT a key advantage of syndicated data?

Both syndicated data and standardized services are a form of:

Standardized services firms are marketing a process more than anything else. Examples include standardized methods of measuring customer satisfaction or providing a system for segmenting the market.

Tracking data is widely available for products sold through "brick and mortar" stores (stores having physical locations). However, there is no tracking data for products purchased online such as music from Apple's iTunes or other products that have been digitized such as movie videos or books.

Clay Holladay owns a chain of radio stations. The advertising time he sells to advertisers is directly related to the number of persons who are listening to each station in each radio market. Clay purchases estimates of the number of persons who listen to the different radio stations in each market from Arbitron, a marketing research firm. In every radio market Arbitron gathers the same data; the number of persons listening to every program on each station as well as their age and gender. Arbitron records this information in a database and they offer it to every person who wishes to subscribe to it for a fee. Arbitron is an example of a:

A form of external, secondary data that collected in a standard format and made available to subscribers is:

Nielsen's service that is designed to gather and report WOM or online "buzz" about companies and their products and services is known as:

A standardized service for classifying consumer markets is called PRIZM. It specializes in GIS and combines census data with proprietary data to categorize neighborhoods into different segments.

A disadvantage of scanning data is "information overload." Standardized information firms provide products that help managers attach meaning (intelligence)to the huge volume of data collected.

Although tracking data are useful, they are limited to only sales made through either Wal-Mart or Target Stores. If a firm does not have its products distributed through either of these two chains, it may not purchase scanning data.

What kind of data are recorded continuously from a panel of respondents to measure their exposure to promotional materials (usually TV as well as in-store promotions)and subsequent buying behavior?

Arbitron provides syndicated data on radio listenership.

Arbitron is testing its personal portable meter, which is designed to measure the number of types of magazines being read by a panel member carrying the PPM.

Which of the following would be best for providing information on members of the consumer market?

Q Scores measures the appeal of different performers such as actors/actresses, announcers, sports celebrities, and so on. The ratings of different performers are made available to all subscribers, so a client firm may be in a better position to select a company spokesperson for their company. Q Scores is an example of: