MGMA01H3 Chapter Notes - Chapter 5: Clickstream, Customer Relationship Management, Neuromarketing
Document Summary
Companies don"t need more information they need better information. Customer insights: fresh understanding of customers and the market place derived from marketing info that become the basis for creating customer value and relationships. Customer insight groups collect customer and market info from multiple sources. Use info to develop customer insights from which company can create more value for customers. Mis balances info users would like to have against what they would need and what is feasible to offer. Interview managers on what info they would like. Too much info as harmful as too little. Cost of obtaining, analyzing, storing and delivering info can quickly mount. Value of insights gained is worth costs. Hard to assess value and costs of info. Internal databases: electronic collections of consumer and market information obtained from data sources within the company"s network. Comes from demographics, psychographics, sales transactions and websites. Various departments keep track of collect various type of info.
