Chapter 4 Managing Marketing Information _ Customer Insights.pdf

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Chapter 3Analyzing The Marketing EnvironmentPrinciples of Marketing _ Lai Vinh Phuc, MBA
Learning OutcomesExplain the importance of information in gaining insights about themarketplace and customers.Define the marketing information systemOutline marketing research processExplain how companies analyse and use marketing informationDiscuss the issues of marketing researchersPrinciples of Marketing _ Lai Vinh Phuc, MBA
Content:I.Marketing Information and Customer InsightsII.Marketing Information System:1.Accessing Information Needs & Developing Data2.Marketing Research3.Analyzing Marketing InformationIII.Marketing Information ConsiderationsPrinciples of Marketing _ Lai Vinh Phuc, MBA
I.Marketing Information and Customer InsightsPrinciples of Marketing _ Lai Vinh Phuc, MBAMarketing Insights:Fresh and deep insights into customers needs and wantsDifficult to obtainNot obviousCustomer’s unsure of their behaviorHow to catch these insights? By information=> Better information and more effective use of existing information
Marketing Insights:Customer insights teams- Include all company functional areas- Collect informationfrom a wide variety of sources- Use insights tocreate more valuefor their customersBuilding Brand Awareness- “Top of Mind”- Impression to customer’s mind- Eg: Coca Cola:Vina Coffee:I.Marketing Information and Customer InsightsPrinciples of Marketing _ Lai Vinh Phuc, MBA
II.Marketing Information SystemConsists of people and procedures for:-Assessingthe information needs- Developingneeded information- Analyzing and Usinginformation- Helping decisionmakers use the information for customerWhy do marketer need this system?- Solving “Big Data”- Understanding the logical customer perceptionPrinciples of Marketing _ Lai Vinh Phuc, MBA
Figure 1: Marketing Information SystemPrinciples of Marketing _ Lai Vinh Phuc, MBA
II.Marketing Information System1.Assessing the information Needs:Providing information to the company’s marketing and other managersand external partners such as suppliers, resellers, and marketing serviceagenciesBalancing what the information users would like to have againstwhat theyneedandwhat is feasible to offer“Too much is harmful as too little”Difficulties in making decisionWrong decision costs muchUser’sNeedsMISOfferingsPrinciples of Marketing _ Lai Vinh Phuc, MBA
II.Marketing Information System2.Developing Marketing Information:Mission: “findingright informationfrom inside and outsidesourcesObtaining information from:- Internal database- Marketing Intelligence- Marketing ResearchPrinciples of Marketing _ Lai Vinh Phuc, MBA
2.Developing Marketing Information:a.Internal Database:

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Term
Summer
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Marketing, Lai Vinh Phuc

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