BUS 343 Lecture Notes - Lecture 4: Customer Insight, Infor, Rela
Document Summary
Customer insight: fresh understand => competitive advantage, not obvious, technology = rich, timely, low cost, right infor + time +use. Marketing infor system: assess + develop infor needs to generate insights. Assessing: balance like + need + feasible + cost + value. Internal databases: quick, cheap but incomplete, wrong form, age quickly, complex. Competitive marketing intelligence: publicly available infor improve decision making: consumer environment, competitor" actions, opportunities and threats. Observe customer, employees, competitor benchmark, internet research, social media (talk, connect brand, monitor chat) Chief listening officier: shift customer conversation and pass insight to decision maker. Marketing research: analysis data relevant to specific situation. Exploratory research: gather infor define problems, suggest hypotheses. Causal research: test hypotheses cause-and-effect rela plan: objectives translated into specific infor need. Proposal: address problem, plan, infor obtain, result, cost. Gathering secondary data: external + internal infor, supplier, commercial online databases,