BUS 343 Chapter Notes - Chapter 5: Habitat Ii

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Ginger Grant

Document Summary

5 managing marketing information to gain customer insights. To create value for customers & build meaningful relationships w/ them, marketers must first gain deep insights into what customers need & want. Marketers don"t need more info, need better info. Marketing info sys = ppl & procedures for: assessing info needs, dvlping the needed info, helping decision makers to use info to generate & validate actionable customer & market insights. Internal databases = electronic collections of consumer & market info obtained from data sources w/in company network. Accessed more quickly & cheaply than other info sources. Internal info often collected for other purposes, may be incomplete to make marketing decisions. Data ages quickly, keeping database current req major effort. Marketing intelligence = systematic collection & analysis of publicly avail info about consumers, competitors, dvlpts in marketing enviro. Goal: improve strategic decision making by understanding consumer enviro, assessing & tracking competitors" actions, providing early warnings of opportunities & threats.