BUS 345 Lecture 5: Chapter 5

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 345
• Professor: Unknown

Document Summary

Marketing information systems (how do we get good information) Lo1: marketing information and customer insights: to create value for customers and build meaningful relationships with them. Marketers must gain deep insights into customers needs and wants. You can use this insights to develop a competitive advantage. Customer insights: fresh understanding of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships. Lo2: marketing information system (mis): people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights. Assessing marketing information needs: a good mis balances information wants, needs, and feasibility, mis has limitations determine possibility, mis is costly must consider roi. How can marketers obtain needed information: internal data, marketing intelligence, marketing research. Internal databases: electronic collections of consumer and market information obtained from data sources within the company network.