4. Managing Marketing Information Flashcards
People, equipment and procedures to gather, sort, analyse, evaluate and distribute needed, timely and accurate information to marketing decision makers
Marketing information system (MIS)
Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships
Customer insights
Electronic collections of consumer and market information obtained from the data sources within the company network
Internal databases
The systematic collection and analysis of publicly available information about consumers, competitors and developments in the marketing environment
Competitive marketing intelligence
The systematic design collection, analysis and reporting of data relevant to a specific marketing situation facing an organisation
Marketing research
Marketing research to gather preliminary information that will help define problems and suggest hypotheses
Exploratory research
Marketing research to better describe marketing problems, situations or markets such as the market potential for a product or the demographics and attitudes of consumers
Descriptive research
Marketing research to test hypotheses about cause-and-effect relationships
Causal research
Information that already exists somewhere, having been collected for another purpose
Secondary data
Information collected for the specific purpose at hand
Primary data
Computerised collection of information available from online commercial sources or via the Internet
e.g. TNS group, Dun & Bradstreet, United Nations
Online database
The gathering of primary days by observing relevant people, actions and situations
Observational research
A form of observational research that involves sending trained observers to watch and interact with consumers in their ‘natural habitat’
Ethnographic research
Gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behavior
Survey research
A gathering primary data by selective matches groups of subjects, giving them different treatments, controlling related factors and checking for differences in group responses
Experimental research
Personal interviewing that involves inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service or organisation
The interviewer ‘focuses’ the group discussion on important issues
Focus group interviewing
Collecting primary data through Internet surveys and online focus group
e.g. Internet surveys, online panels, experiments and online groups
Online marketing research
Gathering a small group of people online with a trained moderator to chat about a product, service or organisation and gain qualitative insights about customer attitudes and behavior
Online focus groups
A segment of the population selected for marketing research to represent the population as a whole
Sample (in a sampling plan)
Who is to be surveyed? (sampling unit)
How many people should be surveyed? (sample size)
How should the people be chosen? (sampling procedure)
Sampling plan decisions
Managing detailed information about individual customers and carefully managing customer touch points to maximise customer loyalty
Customer relationship management (CRM)
