MGMA01H3 Chapter 5: Chapter 5 Notes
Document Summary
Chapter 5 managing marketing information to gain customer insight notes. Customer relationship management (crm) customer relationship management (crm) managing detailed information about individual customers and carefully managing customer touchpoints to maximize customer loyalty. Crm analysts develop data warehouses and use sophisticated data mining techniques to unearth riches hidden in customer data. Reviewing objectives and key terms: explain the importance of information in gaining insights about the marketplace and customers. The marketing process starts with a complete understanding of the marketplace and consumer needs and wants. Thus, the company needs sound information to produce superior value and satisfaction for customers. The company also requires information on competitors, resellers, and other actors and forces in the marketplace. Increasingly, marketers are viewing information not only as an input for making better decisions, but also as an important strategic asset and marketing tool: define the marketing information system and then discuss its parts.
