UGBA 10 Lecture Notes - Lecture 11: Data Mining, Global Marketing, Purchase Funnel

• School: Berkeley
• Department: Business Administration, Undergraduate
• Course: UGBA 10
• Professor: Briginshaw John

Document Summary

Customer insights: fresh understandings of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationship. Marketing information system: people and procedures dedicated to assessing information needs, developing the need information, and helping decision makers to use the information to generate and validate actionable customer and market insights. Chief listening officers, charged with sifting through online customer conversations and passing along key insights. Marketing research: the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization: defining the problem and research objectives. Decision/question to be made, how best to obtain needed information. Exploratory research: marketing research to gather preliminary information that will help define problems and suggest hypotheses. Descriptive research: marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.