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Chapter 1

Chapter 1 Marketing Info Management

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University of Guelph
Marketing and Consumer Studies
MCS 2020

Chapter 1 Marketing Information Management The Information Age11 IntroductionOrbiting satellites have enabled us to map nearly every square inch of this planetGPS WiFi frequencies and even cell phone signals enable us to triangulate and track people an objects as they travel across the globe 12 Information as CommodityInfo doesnt just help exchange commodities it is a commodityEg Customer info has provided value to organizationsInfo can be collected analyzed and combined into an advantageous end product eg more informationAdding a little labour can turn previously useless data into new products for the marketInfo can depreciate over timeInfo isnt tangible nor is it limited in quantity nor is it manufacturedat least in a traditional sense Information is a differentiator which means info creates competitive advantage 13 Information OverloadLiving in the information age means we have access to huge amount of info As our information needs increase in complexity we begin to run into trouble Start having second thoughts about our assumptions that information is naturally good Having this much info can be detrimental to ability o set priorities manage tie time and makedecisions more info can mean more confusionInformation overload involves 1 having too much info to make a quality decision 2 Receiving too much info to be informed about a topicDifferent formats
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