MGMA01H3 Chapter 5: Chapter 5.docx

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15 Apr 2012
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Chapter 5 managing marketing information to gain customer insights. Customer & market insight helps build customer value and relationships. Customer insights: fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationship: don"t become customer controlled -> where you basically give everything customers want. Consider the need of all users when designing an is. Good mis balances info users would like to have against what they really need and what is feasible to offer. Internal databases: electronic collections of consumer and market information obtained from data sources within the company"s network: assessed cheaply and quickly, can be incomplete/ wrong form for making marketing decisions, data ages quickly. Marketing intelligence: the systematic collection and analysis of publicly available information about consumers, competitors, and development in the marketing environment: to improve strategic decision making by.

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