BUSI 2204 Lecture Notes - Laziness, Financial Statement, Convenience Sampling
27 Aug 2014
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Managing marketing information to gain customer insights (cont) Customer insights teams are formed from all areas within a company, no only marketing. Customer/external marketing research: sometimes the term marketing research is used to describe all three content areas. Information collected from different sources within the company, and stored within the organization"s information system: accounting system, operations/production, sales reporting system, past research studies. May not be in a usable form for the decision to be made. An assumption is-your future purchase behaviour is predictable because of what you have purchased in the past. In 2008 recession, some credit card companies offered bankrupt individuals credit card. They charged a higher interest rate to increase profit. There are people in every organization who are not your customers, another assumption is :if you get a hold of the new customers they will behave in the same way that past customers have behaved. Existing customers are indicative of what you will find among new customers.
