| What to know about consumer data describes | | | | traded around planet earth. Another benefit of using |
| collection, privacy and consumer behavior patterns | | | | scanner data is the ability to sync up with |
| that businesses and shoppers focus on. Businesses | | | | international trade data bases. |
| collect and analyze data on customers to accomplish | | | | Privacy Concerns |
| a specific goal. A professional research firm can also | | | | Shoppers and businesses share common concerns. |
| perform these two tasks, but the goal remains the | | | | Business watchdog groups, and government and |
| same. Some research firms increase their sample size | | | | industry representatives regularly meet to put in |
| to include international shoppers. Companies with an | | | | place privacy protection. Consumers enjoy shopping |
| international presence need these international data | | | | and realize stores always collect data on them. |
| to make informed decisions. | | | | Businesses need data about purchase patterns to |
| Consumer research firms favor panel surveys to | | | | become more profitable. Businesses and consumers |
| acquire the desired shopper data and to discover | | | | gain much when they cooperate. |
| consumer preferences. A panel survey is like taking | | | | Important privacy topics include sharing of shopper |
| one picture of the shopper. Then researchers analyze | | | | data and not allowing data to be used for purposes |
| the picture and learn what it tells them. When a panel | | | | other than marketing. Businesses that rely on data |
| survey is given over months or years, it becomes | | | | from consumers need to always store data in an |
| known as a longitudinal survey. Panel studies are one | | | | impenetrable location. The best protection of |
| of the mainstays of market research. They far from | | | | sensitive data sets and internet access involves |
| being the only methods to learn about shoppers. | | | | active cooperation between consumers and |
| Some retailer stores use mystery shoppers as a way | | | | businesses. Industry leaders try to create industry |
| to get feedback on specific store locations and | | | | standards for collection, storage, dissemination, and |
| specific employees. This practice is surging in | | | | use of data on consumers. |
| popularity. Sales persons learn directly from shoppers. | | | | Consumer Behavior Patterns |
| Mystery shoppers reveal how they feel about the | | | | The Holy Grail of shopper data research is the |
| shopping experience in that store location. The sales | | | | unknowable answer to two lonely questions, namely |
| people use this direct personnel testimony to improve | | | | what do people want and how much will people pay. |
| customer service and to increase sales. An internet | | | | A business that is horizontally integrated faces the |
| driven market place probably has an internet driven | | | | chore of cross referencing these two answers with |
| method to gather and analyze shopper data. One | | | | their several companies. Small businesses use these |
| method involves automatic electronic tracking using | | | | answers for one company, but the revenue of one |
| scanned bar codes also called scanner data. | | | | company can sustain several families. Every business, |
| Scanner data from bar codes allows the automatic | | | | big or small, faces the same two tasks, namely |
| creation of databases of purchase patterns data. Bar | | | | predicting what people want and what people are |
| codes look like black parallel lines. Product | | | | willing to pay. |
| manufacturers paste these black lines on the product | | | | What to know about consumer data describes |
| label of nearly every product they make for sale | | | | collection, privacy and consumer behavior patterns |
| through internet and retail stores. Bar codes match | | | | that companies and consumers find important. |
| the international system of classification of goods | | | | |