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ch4Marketing Notes

ch4Marketing Notes - M a r keting Notes Chapte r 4 Customer...

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Marketing Notes: Chapter 4 Customer insights – the real value of marketing research and marketing information (information of the right kind) and how it is used -companies are now creating customer insights teams Marketing information system – consists of people and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable consumer and market insights -begins and ends with information users 1. Assess the Information Needs 2. Develop Needed Information 3. Make information available to users to decision makers -helping decision makers generate actionable customer insights -monitoring and interacting with the marketing environment to develop information -interacting with marketing managers and other who need marketing information Developing Marketing Information Marketers can obtain the needed information from internal data, marketing intelligence, and marketing research Internal Databases – electronic collections of consumer and market information from sources within the company network -it may be incomplete or wrong cause it wasn’t collected for the same purpose -needs to be current -must be well integrated and accessible
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Example: MEMBERSHIP CARD for a pet store Competitive Marketing Intelligence - the systematic collection and analysis of publically available information about consumers, competitors and developments in the marketplace (snoop)
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