Secondary Data:Conceptual Modeling Chapter 3 Activity

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University of Alabama *

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Marketing

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Feb 20, 2024

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Caroline Stein MKT 473-004 Chapter 3: In-class Activity I. Secondary Data 1. What is secondary data? How is it different from primary data? Secondary data is data gathered from sources that are already out there for purposes other than the study at hand but can help be applied to the study. It differs from primary data in the fact that primary data is collected immediatly for the study at hand and not data from an outside source. 2. If a marketing researcher wanted to use information found in the United States Census, what type of data would this be considered? Secondary data.  external – put out there for everyone.  non-syndicated – don’t have to pay. Use the United States Census information and data to answer questions 3 and 4. 3. What percentage of the population in Alabama have a bachelor’s degree or higher? How does this compare to the population of the United States? Alabama – 28.8% United States as a Whole – 35.7% This data shows that Alabama has a lower population percentage of people who have a bachelor’s degree or higher than the US as a whole. 4. What is the median household income for the state of Alabama? How does this compare to the median household income for the United States? Alabama – $59,674 United States as a Whole - $74,755 This data shows that Alabama’s medium household income is lower than the US as a whole, 5. The Social Security Administration reports that there are substantial differences in lifetime earnings by educational attainment. Regression estimates show that men with bachelor's

degrees would earn $655,000 more in median lifetime earnings than high school graduates. Women with a bachelor's degrees would earn $450,000 more in median lifetime earnings than high school graduates. Source: Tamborini, C. R., Kim, C., & Sakamoto, A. (2015). Education and Lifetime Earnings in the United States. Demography 52, 1383–1407. a. What is the independent variable in this study? Level of education. b. What is the dependent variable in this study? Lifetime earnings. c. What are the main findings of this research regarding the relationship between educational attainment and lifetime earnings? Men and women who have earned a bachelor’s degree will earn more lifetime earnings compared to a person that only has a high school degree. d. What other variables (e.g., field of study, geographic location, industry, etc.) do you think could influence the relationship between educational attainment and lifetime earnings? Field of study, industry, location, weather, experience.

I. Conceptual Modeling & Hypothesis Development The university coffee shop manager would like to figure out how to increase sales. She is interested to see if she should expand the menu to include premium snacks, such as gluten-free pastries, as well as pastries from the local bakery. Additionally, she would like to see how she can get more students/faculty/staff to purchase coffee from her store instead of the Starbucks near campus. 6. Paraphrase what the coffee shop manager wants. This is your research question. (You can have more than one research question). 7. Who is the target population? Of the population, who would you sample and why? 8. Identify 2-3 dependent variables or constructs that you think are most interesting. 9. Brainstorm some ideas regarding variables that might be influencing the shop’s sales. Think about the marketing theories you have learned in other marketing classes. Identify the 4-5 independent variable(s) using the marketing concepts from other marketing classes. 10. Draw a conceptual model(s) that will provide insights regarding these issues. 11. Interpret the variable relationships based on your conceptual model, write the hypotheses, and indicate the hypotheses’ direction.

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Secondary Data:Conceptual Modeling Chapter 3 Activity

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