COMM 223 Chapter Notes - Chapter 5: Customer Insight, Internal Communications, Scale-Invariant Feature Transform

• School: Concordia University
• Department: Commerce
• Course: COMM 223
• Professor: Eric Martineau

Document Summary

Good products and marketing programs start with good customer information. Companies also need information on competitors, resellers and other actors and marketplace forces. Once the information is gathered, marketers have to use this information to gain powerful customer & market insights. Having customer insight can help companies develop a competitive advantage. Customers don"t just tell companies what they want and need to gain good customer insights, marketers have to effectively manage marketing information from many sources. Marketers now have an overload of customer feedback but they don"t need quantity they need quality information and they need to use it better along with information they already have. The real value of marketing research and information lies in how it"s used in the customer insight that it provides. Customer insights fresh understandings of customers & the marketplace taken from marketing information that becomes the basis for creating customer value & relationships.