Author Question: Name and describe the three broad objectives that can be achieved using secondary data and give an ... (Read 53 times)

brutforce · **on:** Jun 29, 2018

Name and describe the three broad objectives that can be achieved using secondary data and give an example of each.

Question 2

The appropriate measure of dispersion for interval data is
a. the standard deviation c. relative frequencies
b. absolute frequencies d. both b and c

olivia_paige29 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

Three general categories of research objectives that can be achieved using secondary data are:
(1) Fact-finding - this is the simplest form for secondary-data research. It includes identification of consumer behavior for a product category, trend analysis, and environmental scanning.
(2) Model building - involves specifying relationships between two or more variables, perhaps extending to the development of descriptive or predictive equations. Examples include estimating market potential, forecasting sales, data mining, and selecting trade areas and sites.
(3) Database marketing - the practice of using CRM databases to develop one-to-one relationships and precisely targeted promotional efforts with individual customers. Examples include enhancing customer databases and developing prospect lists.

Answer to Question 2

A
The standard deviation is the appropriate measure of dispersion for data that is at least interval.