MKTG 2201 Chapter Notes - Chapter 4: Customer Relationship Management, Focus Group, Small Business
22 Mar 2016
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Document Summary
A marketer begins by gathering information on the customers needs and wants. Customers insights fresh understandings of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships. Marketing information system consists of people and procedures dedicated to assessing information needs developing the needed information and helping decision makers use the information: assess information needs, develop needed information, analyze and use. To much information can be as bad as to little information. A good mis should balance the information users would like to have versus what they really need and what is feasible to off. The costs of gathering information can quickly mount. Internal databases electronic collections of consumer market information obtained from data sources within the company"s network: could have incomplete data, database require constant maintenance. The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace.
