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For example:

Ð'§ Lexis-Nexis has introduced three new services. Tracker scans thousands of publications daily and delivers relevant news for only those topics designated by the customer. Pub watch allows users to scan a particular publication table of contents and select only the stories that they want to read. AM news brief provides new summaries everyday.

Ð'§ In addition to various major databases that provide financial information about companies and stacks, such as Standard and Poor's Compustat Services and Value line Database, a number of online sources provide non-financial information about companies.

CLASSIFICATION OF DATABASES BASED ON STORAGE AND RETRIEVAL METHODS.

Online Database

Online data base can b accessed in real time directly from the producers of the database or through a vendor. In order to access this all one needs is a personal computer, a modem and a telephone line. It reduces the time required for a search and brings data right to the desk.

CD-ROM Database

Large amounts o information can be stored on compact disks and can be read on personal computers. A single cd can hole approximately 600 megabytes of information.

Floppy disk Database

As the name suggests, here information is stored in floppy disks. The use of floppy disks is now reducing as the prices of cds are drastically reducing.

ADVANTAGES OF COMPUTER-RETRIEVABLE METHODS

The main advantage of computer-retrievable methods is the scope of the informaÐ'­tion available on databases. They now cover several thousand U.S. and worldwide information sources.

A second advantage is the speed of information access and retrieval. Often, much of the information is available from a computer before it is available in published form, because of the time required for printing and mailing printed material.

Third, commercially available search procedures provide considerable flexibility and efficiency in cross-referenced searching. For example, by using the EIS Industrial Plants database, it is possible to locate plants that simultaneously meet several criteria, such as geographic location, industry code, and market share. The future of computer retrievable databases is exciting.

LIMITATIONS OFF COMPUTER-RETRIEVABLE METHODS

The main limitations of the reference databases are their reliance on the accuracy of the abstract author, the dependence on the journal and article selection policy of the database producer, and the idiosyncrasies of the search procedures of the different databases as well as the different database network vendors. Because the computer search is based on finding certain key words within the abstract, there is the possibility that some important information will be missed if an abstract is missing a key word. On the other hand, a lot of irrelevant data may be generated if certain key words used to limit a search are not cited in an abstract. For example, a manufacturer of minicomputers who is interested only in developments pertaining to minicomputers may not want to retrieve the entire database on computers. However, the abstract may contain the word "computer" regardless of size, and accessing information on minicomputers would also yield general computer information.

Another limitation arises from the enormous amount of information now available online. It is often quite difficult to know which of the myriad sources has the correct information most readily accessible.

STANDARDIZED SOURCES OF MARKETING DATA

The more specific and topical the need for information, the smaller the likelihood that relevant secondary data will be found. The researcher then has the choice of designing a special study or taking advantage of standardized data collection and analysis procedures. Thus, Standardized Sources of Marketing Data are external sources of marketing data collected by external organizations for several information users who have common information needs. Since, the need for such data is continuous and recurrent; this allows the data supplier to enter into long term contracts with clients and allows them to recover heavy fixed costs. Also, the clients get continuity of data series, which is essential for monitoring and evaluation purposes. There are Two Types of Standardized Sources of Marketing Data.

a. The companies offering these services are referred to as Syndicated Data Services Firms. Firms supplying syndicated data follow standard research formats that enable them to collect same, standardized data over time. These firms provide specialized, routine information needed by a given industry in a ready-to-use, standardized marketing data format for use by the subscribing firms. Neilson Media Research provides syndicated data to their customers in the form of TV Ratings.

b. There are Standardized Service Firms which are also syndicated but they provide a standard service and sell this service to those who are interested. For e.g. Audits & Surveys provides a standard service in the form of prearranged test marketing i.e. Audits & Surveys will provide a subscribing firm (say HLL) with all necessary service needed to test market a product and will supply the data back to HLL. HLL will provide Audits & Surveys with the product and advertisements.

Standardized sources of marketing data include:

Store audits

Consumer purchase panels

Scanner based systems

RETAIL STORE AUDITS

Audit data collected by research firms whose employees visit a sample of stores at fixed intervals (generally two months) for the purpose of counting stocks and recording deliveries since last visit to estimate retail sales for any desired classification of the product category (including brands, sizes, package types, flavors etc.)

The desired value is arrived at by computing

Beginning Inventory + Deliveries Ending Inventory = Sales for the Period

These retail store audits are then projected to arrive at the nationwide and regional estimates of sales, inventories and reported to the client between six to eight weeks. The data can not only be used to analyze market position and competitive activity but also for the analysis of the impact of marketing activities.

A major disadvantage is