MGMA01H3 Chapter Notes - Chapter 5: Consumer Privacy, Focus Group, Neuromarketing
Document Summary
The marketing process begins with a complete understanding of consumer needs and so, the company needs proper information to produce superior value to customers. It also requires information on competitors, resellers and other forces. Information is also used as an strategic asset and marketing tool. Marketing information system: people and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate customer and market insights. A good mis needs to consider the needs of all the users customers, competitors, resellers; it must also balance the information users would like to have against what they really need and what is feasible to offer. The cost of obtaining and delivering information is high so, the company must decide whether the value of insights gained from additional info is worth the costs of providing it. Marketers can obtain information from: internal data.
