COMM 131 Lecture Notes - Lecture 4: Neuromarketing, Data Mining, Consumer Privacy
7 Apr 2013
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Document Summary
More information isn"t the problem, better information is, as well as making better use of it. Customer insight: a fresh understanding of customers and the marketplace derived from marketing info that becomes the basis for creating customer value and relationships. Organizations must not become customer controlled; give them what they need, not everything they want. Marketing information systems (mis): people and procedures for assessing info needs, developing needed info, and for helping management use the info to develop customer insights, manage relationships, and make decisions. Mis must provide info for both managers and external partners, and must show what they need based on what"s feasible. Cost of info must be weighed against its estimated benefit. Internal databases: electronic information compiled from all departments within an organization. Marketing (psychographics, demographics) customer service, accounting, operations, sales. Data may be incomplete or need to be reformatted, it must be properly maintained and easily accessible.
