Managing Marketing Information to Gain Customer Insight

a.  Marketing Information and Customer Insight
  • Customer insights: fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.
  • Marketing information system (MIS): people and procedures for assessing information needs, developing the needed information, and helping decision makers to generate and validate actionable customer and market insights.
    • Primarily serves the company’s marketing and other managers.
    • Provide information to external partners. 
    • A good MIS balances the information users would like to have against what they really need and what is feasible to offer.
b. Developing Marketing Information
  • Marketers can obtain the needed information of:





      •
    • Internal database: electronic collections of consumer and market information obtained from data sources within the company network.
    • Comptitive marketing intellgence: the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
    • Marketing research: the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
  • The marketing research prosses :
  1.  Defining the problem and research objectives
  2. Developing the reserach plan for collecting information
  3.    Implementing the research plan
  4.    Interpreting and reporting the findings
  • 3 types of objectives:
    • exploratory research: to gather preliminary information that will help define problems and suggest hypotheses
    • descriptive research: to better describe marketing problems, situations, or markets.
    • casual research: to test hypotheses about causes and effect realionships.
  • research objectives must be tanslated into specific information needs.
  • to meet the manager's information needs, the research plan can call for gathering: 
    • secondary data
    • business data 
    • government data 
    • internet data
  • implementing the research plan: 
  1. data collection
  2. data processing 
  3. data analysis
  • inerpreting and reporting the findings:

  1. interpret the findings
  2. draw conclusions 
  3. report the findings to management
c. analyzing and using marketing information

  • customer relationship management 
  • distributing and usign marketing information
d. other marketing information considerations
  • Marketing research in small businesses and non profit organization
  • International marketing research

Comments

Post a Comment

Popular posts from this blog

Consumer and Buyer Business Behaviour

Image
Consumer and Business Buyer Behaviour a. model of customer behaviour C onsumer buyer behavior : the buying behavior of final consumers, individuals and households, who buy goods and services for personal consumption Consumer market : all the individuals and households that buy or acquire goods and services for personal consumption. model of consumer behaviour: b. characteristic affecting consumer behaviour factors influencing consumer behaviour: c. types of buying desion behaviour 4 types of buying behaviour: d. the buyer decision process occurs when the buyer recognizes a problem or need triggered by: internal stimuli external stimuli sources of information: personal sources: family and friends commercial sources: advertising and internet public sources: mass media and consumer organizations experiental sources: handling, examining, and using the product  evaluation of alternatives : how the consumer uses information to evaluate alterna...
Read more

Analyzing The Marketing Environment

Image
a. The Micro-environment  Micro-environment: The actors close to the company that affect its ability to serve its customers. actors in the microenvironment: b. The Macro-environment  Macro-environment: The larger societal forces that affect the micro-environment, consists of demographic, economic, natural, technology, politic, and cultural forces. demographic environment: the changing age structure of the population. ( the baby boomers, generation X, generation Y, generation Z) geographic shifts in population. a better -educated, more white-collar, more professional population. increasing diversity. economic environment: the changes in consumer spending. income distribution. technological environment: political and social environment: legislation regulationg business. increased emphasis on ethics and socially responsible actions. cultural environment: the presistance of cultural values. shifts in secondary cultural values.(people'...
Read more

Company and Marketing Strategy

Image
a.       Company – wide strategic planning ·         Strategic planning : the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. ·          Steps : 1.       Defining the company mission. 2.       setting company objectives and goals . 3.       designing the business portfolio. 4.       planning marketing and other functional strategies (business unit, product, and market level). ·          Mission statement : a statement of the organization’s purpose, what is wants to accomplish in the larger environment. In other words, to satisfying basic customer needs. ·          Business objectives : -     ...
Read more