BUSI 520 Chapter 3: Chapter 3
2 Mar 2018
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Document Summary
Advantages for identifying significant market changes (2: disciplined methods for collecting information, time spent interacting with customers and observing competitors and other outside groups. Marketing information system: consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers, relies on internal company records, marketing intelligence activities, and marketing research. Ways to spot opportunities and potential problems (7) Internal reports of orders: sales, prices, costs, receivables, payables. Marketing intelligence system: set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment. Places to find competitors strengths and weaknesses online (5) Independent customer goods and service review forums: distributor or sales agent feedback sites, combo sites offering customer reviews and expert opinions, customer complaint sites, public blogs. Fad: unpredictable, short-lived, and without social, economic, and political significance.
