COMM 231 Lecture Notes - Lecture 5: Consumer Privacy, Focus Group, Unearth

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18 Aug 2016
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Marketing information system (mis): people and procedures for assessing information needs, developing the needed information and helping decision makers to use information to generate and validate actionable customer and market insights. A good mis balances what the information users would like to have, what they really need and what is feasible to offer. Managers need to decide whether the cost to gain all of this information is worth it. Electronic collections of consumer and market information obtained from data sources within the company network. Information on customer characteristics, sales transactions and website visits. Keeps record of customer satisfaction or service problems. Detailed records of sales, costs and cash flows. **these all provide customer insight and competitive advantage can be incomplete or in the wrong from for marketing decisions requires highly sophisticated equipment and techniques: marketing intelligence. Systematic collection and analysis of publicly available information about consumers, competitors and developments in the marketing environment.

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