BUS 343 Chapter 5: BUS 343 CH 5-6

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Jason Ho

Document Summary

Need first gain, deep insight into what customers need and want develop a competitive advantage. Insights can be very difficult to obtain, since customers can"t tell what they want. Effectively manage marketing information from wide range of sources companies: have technologies to generate marketing information in great quantities. Consumers: volunteering, bottom- up information through email, text, blogging (gain rich, timely customer insight at lower cost) Customer insights: understanding of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationship. To develop customer insight, design effective marketing information systems that give managers the right form, at the right time and help them to use this information to create customer value and stronger customer relationships. Competitive marketing intelligence: the systematic collection and analysis of publicly available information about consumer, competitor and development in the marketing environment.