MGMA01H3 Chapter Notes - Chapter 5: Online Advertising, Focus Group, Simple Random Sample

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21 Mar 2016
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To create value and build meaningful relationships with customers, marketers must gain deep insights into what customers need and want: very difficult to obtain, marketers must effectively manage marketing info from wide range of sources. Marketing managers are overloaded with data from tweets, blogs, posts, and other sources. Customer insights fresh understandings of customers and marketplace derived from marketing information that become the basis for creating customer value and relationships: real value of marketing lies in how it is used. Customer insights groups collect customer and market info from a wide variety of sources, which they then use to develop important customer insights from which the company can create more value for its customers. Companies must design effective marketing info system which provide right info in right form at right time. Marketing info system primarily serves company"s marketing and other managers, but it may also provide info to external partners (suppliers, resellers, marketing services agencies)

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