MARK20100 Chapter Notes - Chapter 3: Telecommunications Network, Focus Group, Habitat
Document Summary
Significant problem having too much info, not too little. Two fundamental types of market information decision makers need today: data related to broad areas of interest, information needed to address a specific question. The nature of a market information system: market information system a continuing process of identifying, collecting, analyzing, accumulating, and dispensing critical information to marketing decision makers. Internal sources collecting information inside the company: 5 common internal sources of data collected as a regular part of doing business: Tracking a customer"s initial inquiry through to order placement, delivery, payment, and follow-up after the purchase. Identify the frequency and size of customer orders. Determine the actual cost of a customer order. Rank customers based on established criteria like profitability. Calculate the efficiency of the company"s production and distribution system. External sources collecting information outside the company: marketing intelligence collecting, analyzing, and storing data from the macro environment on a continuous basis.
