Customer insights: fresh understandings of customers/ marketplace to get new marketing info
MIS ( marketing information systems): people and procedures for assessing info needs,
developing the needed information, and helping decision makers to use the info to generate
and validate actionable customer and market insights
A good MIS balances info users would like to have against what they really need and what is
feasible to offer.
Internal databases: electronic collections of consumer and market info obtained from data
sources within the company's network.
Competitive marketing intelligence: the systematic collection and analysis of publicly available
info about consumers, competitions and developments in marketing environment. May face
ethnical issues for privacy.
Marketing research: the systematic design, collection, analysis, and reporting of data relevant
to a specific marketing situation facing an organization
Marketing research project objectives ( one of the three):
Exploratory research: marketing research to gather preliminary info that will help define
problems and suggest hypotheses
Descriptive research: "" to better describe marketing problems, situations, or markets, such as
the market potential for a product or the demographics and attitudes of consumers
Casual research: " " to test hypotheses about cause and effect relationships
Market Research Process: defining problem and research objectives> developing research plan
for collecting info> implementing research plan-collecting and analyzing data> interpret and