Management and Organizational Studies 2320A/B Chapter Notes - Chapter 5: Focus Group, Extranet, Customer Insight

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Companies use costumer insights to develop a competitive advantage: they don"t need more information, they need better information and they need to make better use of the information they have. Customer insights: fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships. Customer insight groups collect customer and market information from a wide variety of coursed: they then use the marketing information to develop important customer insights from which the company can create more value for its customers. Customer controlled understand customers to the core and give them not what they need but to create value for customers as a means of capturing value for the firm in return. Marketing information system (mis): consists of people and procedures fro assessing informational needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights: assessing informational needs:

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