syndicated services “standardized solutions”. types of secondary data external data *syndicated...
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Syndicated Services
“Standardized Solutions”
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Types of Secondary data
External Data*Syndicated SourcesSyndicated Sources*Published Sources*Database Sources
Internal Data
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SYNDICATED DATA
…a form of external, secondary data that is supplied from a
common database to subscribers for a service fee. Such
information is typically detailed information that is valuable
to firms in a given industry and is generally not available in
libraries.
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Syndicated Suppliers
• Systematically collect data, expecting there to be demand for the information.
• Different clients are charged different prices to clients on schedules developed through “trial and error.” Just low enough to discourage a client from attempting it themselves.
• May produce published reports for sale to periodicals, libraries, and other subscribers.
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Advantages of Syndicated Data
Shared Costs
High Quality
Current Information
Reliable Service
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Potential Disadvantages
Must Evaluate it for Appropriateness
Commitment Cost
Availability to Competitors
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Major Areas of Standardized
• Defining Market Segments– Information on Members of the Business to Business (B2B) Market– Information on Members of the Consumer Market
• Conducting Market Tracking– Retail Level Tracking– Household Level Tracking– Wholesale Level Tracking
• Monitoring Media Usage and Promotion Effectiveness– Television– Radio– Print– Multimedia
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Defining Market Segments
– Providing Information on Members of the Industrial Market (Dun and Bradstreet)
– Providing Information on Members of the Consumer Market (Claritas)
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Defining Industrial Market Segments
• Dun and Bradstreet– Dun and Bradstreet (D&B) Million Dollar Directory® Series– http://www.dnb.com/dnbhome.htm– Alphabetically; cross referenced geographically and by industry
classification.
• Evaluating Financial Credit • Customer Targeting for Promotions• Managing Supplier Relationships
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“Make Informed Business Decisions”
• “For your company to minimize risk and maximize revenue, checking a customer or prospect's financial position is an essential business practice. Staying informed of any changes in a customer's status is the only way to make the most informed business decisions. “
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“Deliver Your Sales and Marketing Messages to the Right Prospects”
• “D&B's Marketing Services can help you understand your customer base and find more prospects who are likely to buy your products and services. From lists and labels, to corporate family linkage identification, to sophisticated online database marketing services, D&B offers solutions that you can use to improve your sales and marketing efforts.”
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Market SpectrumTM - Web Database
• “D&B Market Spectrum is a Web-based service that enables you to conduct virtually unlimited database marketing activities using D&B's global marketing database of more than 17 million companies.”
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Defining Market Segments
• Consumer Markets– PRIZMTM is a geodemographic segmentation system
licensed by Claritas, a leading provider of demographics for marketing and media. “You are where you live.”
– Links with hundreds of databases - including your customer files - and may be applied to any geography - such as your expansion markets.
– Links it to geography, demographics and hundreds of marketing and media databases.
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Prizm Clusters
• http://www.clusterbigip1.claritas.com/MyBestSegments/Default.jsp
• If you choose to work with Zips, look up the names of the top 20-25 following your sort (descending).
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Conducting Market Tracking
• Retail Tracking–ScanTrack (A.C. Nielsen)–InfoScan (Information Resources
Inc.-IRI)• Retail scanning provides accurate
measurement of product movement linked to store types and locations.
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Retail Measurement
• “The cornerstone of ACNielsen's business, Retail Measurement Services is the industry standard for quality data on product movement, market share, distribution, price and other market-sensitive information in more than 80 countries across six continents.”
• http://www2.acnielsen.com/site/index.shtml
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SINGLE SOURCE DATA
Single source data is 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.
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Information Resources, Inc. (IRI)
• http://www.infores.com/• BehaviorScan® TV Advertising Testing - CPG
Brands • http://www.infores.com/public/us/
default.htm
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Components of Single Source Databases
• Panel of households• Media viewing• Uniform Product Code (UPC)• Check-out Scanners• Computer Technology
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Monitoring Media Usage and Promotion Effectiveness
• Television: ACNielsen– http://www.nielsenmedia.com
• Radio: Arbitron– http://www.arbitron.com/home/content.stm
• Print effectiveness: NOP World– http://www.gfk.com/north_america/
index.en.html/– http://www.mediamark.com/
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Syndicated Sources Strengths
• Cost advantages
• Speed advantages
• Provides a complete assessment of the market
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Conducting Market Tracking
• Consumer Panels–Homescan (A.C. Nielsen)–InfoScan Combined Outlet
Consumer Panel (IRI)• In-home consumer panels with scanners link
consumer demographics with store and purchasing.
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POS (scan) data tells you what sells in a retailer’s stores -- Homescan consumer panel data tells you who buys what in the stores and what they buy elsewhere
• A group of households selected to be demographically and geographically representative
• Continually providing information about their purchases
• From all outlets using in-home scannersUnderstanding your customers’
preferences allows you to tailor merchandising and operations to better meet customer needs
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Homescan collects more than just demographic information allowing you to understand more about customer lifestyles
• Female/male head of household– Age– Employment– Occupation– Education
• Other household members– Age– Relationship to panel member– Employed for pay
• Household income• Race• Hispanic descent
Cable TV
Type of residence
Own/rent residence
Length of residence
Pet ownership (dog/cat and number owned)
Vehicle ownership (car/truck and number owned)
Appliance ownership
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Homescan’s allows you to look at your business globally and locally
• 61,500 households• Geographically dispersed• Demographically balanced
• Projected to U.S. Census at the national, regional, and market level
• Estimates are updated monthly to reflect changes in the
Buffalo/RochesterBostonCharlotteChicago
ColumbusDenverHoustonLos Angeles
MiamiMinneapolisNew YorkPhoenixDetroit
SacramentoSt. LouisSeattleTampaDallas
AtlantaBaltimore/Wash.San AntonioPhiladelphiaSan Francisco
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Pacific
Mountain
West SouthCentral
West NorthCentral East North
Central
NewEngland
Mid-Atlantic
SouthAtlantic
East SouthCentral
9 U.S. Census Divisions
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CONSUMER*FACTS• How do consumers purchase a brand or a category?
CHANNEL*FACTS•How do consumers shop and buy the category in a particular retailer?
CROSS OUTLET*•What categories are Wal-Mart’s shoppers buying elsewhere?
ACCOUNT SHOPPER PROFILER• What do Wal-Mart’s shoppers look like? Which opportunities do core vs occasional shoppers hold? Which brands match with their important customers?
Homescan syndicated databases