BUS 343 Chapter Notes - Chapter 5: Web Analytics, Data Warehouse, Neuromarketing
14 Mar 2017
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Chapter 5 managing marketing information to gain customer insights. Customer insights: fresh understandings of customers and the marketplace derived from mi that becomes the basis for creating customer value and relationships. Interacts with me to develop needed info through internal company databases, marketing intelligence activities and research: helps users analyze and use info to develop customer insights, make marketing decisions, and manage customer relationships. Is the value of the insights gained from additional info should be worth costs of providing it. Internal databases: electronic collections of consumer & mi obtained from data sources w/in company network. Marketing research systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization: used for insight into customer motivations/purchase behavior/satisfaction, market potential, effectiveness of pricing/product/distribution/promotion activities. Developing the research plan for collecting information: marketing manager understands the decision for which the info is needed, researcher understands marketing research and how to obtain it.
