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MOD3_E-MARKETING.docx - E -MARKETING-MODULE 3 RNSIT – MBA...

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E -MARKETING-MODULE 3RNSIT – MBAE-MARKETINGMODULE 3E-Marketing Research: Data Drive Strategy – Marketing Knowledge Management –Monitoring Social Media – Technology-Enabled Approaches – Real-Space Approaches –Marketing Databases and Data Warehouses – Data Analysis and Distribution –Knowledge Management Metrics - Consumer Behaviour Online – Segmentation – TargetingDifferentiation – Positioning Strategies.Data Drive Strategy:U.S. marketers spend $6.7 billion annually on marketing re-search and global spend is about $18.9 billion, according to the Council of American SurveyResearch. This will buy a lot of data. Information overload is a reality for most consumersand marketers alike. It is an especially difficult problem for marketing decision makers asthey gather survey results, web-analytics, call centre data, product sales information, sec-ondary data about competitors, social media conversations, and much more. The problem iscompounded by automated data gathering at Websites, brick-and-mortar points of purchase,and all other customer touch points. For example, if Susan is following a brand on Twitter,the company can send her a message: “click here and get $10 off your next purchase”. Whenshe clicks, she will be prompted to enter her e-mail address and other information prior to re-ceiving the coupon.At this point, her Twitter response and data go into a database. If she purchases on the Web-site, this information as well is recorded and thus the database grows with her address andother information. If she calls to ask a question about the product, then that becomes part ofher record in a database. This cycle continues as the company gathers more information aboutSusan and her behaviours. Multiply this by the number of all the other customers and there isa lot of actionable data, ready to help marketers achieve their objectives of building or retain-ing a relationship and increasing customer value.Exhibit 6.1 displays an overview of this process. Data are collected from a myriad of sources,filtered into databases, and turned into marketing knowledge that is then used to create mar-keting strategy. This chapter discusses internet data sources, describes important databaseanalysis techniques, and, most importantly, examines the purposes and payoffs for all thiswork. Most of these techniques are well grounded in marketing practice; however, new tech-nology brings new applications that are both helpful and confusing for market researchers.This document is intended for internal circulation in the Dept of MBA, RNSIT only.Page 1
E -MARKETING-MODULE 3RNSIT – MBAWeb analytics and performance metrics permeate each of these processes.Marketing insightoccurs somewherebetween information and knowledge. Knowledge is more than a collection of information butsomething that resides in the marketer, not the computer. It can be compared to the differencebetween teaching and learning. A professor might spout information in a lecture or from a

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Term
Spring
Professor
dr bhagat
Tags
Marketing, Dept of MBA

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