COMM 131 Chapter Notes - Chapter 5: Customer Relationship Management, Intranet, Extranet

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Published on 20 Apr 2013
School
Queen's University
Department
Commerce
Course
COMM 131
Professor
Marketing
Chapter 5: Managing Marketing Information
March 5, 2013
Marketing Information and Customer Insights
- Customer Insights: fresh understandings of customers and the marketplace derived from
marketing information that become the basis for creasing customer value and
relationships
- Companies must be careful not to become customer controlled (not give customers
everything they request)
- Marketing Information System (MIS): people and procedures for assessing information
needs, developing the needed information, and helping decision makers to use the
information to generate and validate actionable customer and market insights
- MIS begin and end with information users (marketing managers, internal and external
partners, etc.)
Interacts with information users to assess information needs
Interacts with marketing environment to develop needed information (through
company databases and market research)
Assessing Marketing Information Needs
- MIS primarily serves the company’s marketing and other managers
- Provides information to external partners (suppliers, resellers, marketing agencies)
Developing Marketing Information
Internal Data
- Internal Databases: electronic collections of consumer and market information obtained
from data sources within the company network
- Provides a strong competitive advantage
- Information comes from a variety of sources (marketing, operations, accounting, etc.)
- Accessed more quickly and cheaply than other sources
- Information may be incomplete or in the wrong form for making decisions
- Data ages quickly, must be kept up to date
Marketing Intelligence
- Competitive Marketing Intelligence: the systematic collection and analysis of publicly
available information about consumers, competitors, and developments in the marketing
environment
- Goal: to improve strategic decision making by understanding the consumer
environment, assessing competitors’ actions, and providing warnings of threats
- Helps marketers gain insights on how consumers connect with their brands
Marketing Research
- Market Research: the systematic design, collection, analysis, and reporting of data
relevant to a specific marketing situation facing an organization
- Gives marketers insights to customer motivations, purchase behaviour, and satisfaction
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Document Summary

Customer insights: fresh understandings of customers and the marketplace derived from marketing information that become the basis for creasing customer value and relationships. Companies must be careful not to become customer controlled (not give customers everything they request) Marketing information system (mis): people and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights. Mis begin and end with information users (marketing managers, internal and external partners, etc. ) Interacts with information users to assess information needs. Interacts with marketing environment to develop needed information (through company databases and market research) Mis primarily serves the company"s marketing and other managers. Provides information to external partners (suppliers, resellers, marketing agencies) Internal databases: electronic collections of consumer and market information obtained from data sources within the company network. Information comes from a variety of sources (marketing, operations, accounting, etc. ) Accessed more quickly and cheaply than other sources.

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