BMGT 350 Chapter Notes -Decision Support System, Observational Error, Behavioral Targeting

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 350
• Professor: Roxanne Leftkoff

Document Summary

Marketing information: everyday info about developments in the marketing environment that managers use to prepare and adjust marketing plans. Decision support system (dss): interactive, flexible, computerized info system that. Interactive see immediate results enables managers to obtain and manipulate info as they are making decisions. Flexible shift gears for different topics. Discovery oriented ask what if, isolate problems, probe for trends. Accessible easy to use: database marketing: creation of a large computerized file of customers" and potential customers" profiles and purchase patterns. Marketing research: process of planning, collecting, and analyzing data relevant to a marketing decision. Become data in dss and help management. Descriptive (gathering and presenting factual statements), diagnostic (explaining data), and predictive (what if ?"s) Marketing research problem: determining what info is needed and how that info can be obtained efficiently and effectively. Marketing research objective: specific info needed to solve a marketing research problem (to provide insightful decision-making info)