MKT 100 Lecture Notes - Lecture 3: Knowledge Management, Canadian Imperial Bank Of Commerce, Categorical Imperative
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MKT 100 Full Course Notes
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Document Summary
All the activities undertaken by a business to gather info about costumers, market, competitor, current and future product and services: management information system (mis) data. Internal information about the overall operation of the company. Sales, inventory, human resources, project management, supply chain, customer relationship, knowledge management. Reveals info about customer preferences, market trends, sales location, need for product development. Cost effective form of research: secondary data. Data collected for another purpose for someone else. Marketers use this data for their own use. Census collected by government for purpose of national budgeting, but other companies find it useful for their business because info about demographic, migration, occupation, ethnicity . Proprietary: done by another company for their own reasons and then shared to public. One of biggest changes in marketing research is growth in secondary data because of technology and internet: primary data. Most expensive type of research b/c you hire a company to research for you.
