Chapter 4 Flashcards
customer insights
understandings of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships
marketing information system
onsists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights
marketers obtain information from
- internal data
- marketing intelligence
- marketing research
internal databases
electronic collections of consumer and market information obtained from data sources within the company’s network
problems with internal databases
- information often collected for other purposes, may be incomplete or wrong
- data ages quickly
competitive marketing intelligence
the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace
marketing research
- gives insights into customer motivations, purchase behaviour and satisfaction
marketing research steps (4)
- defining the problem and research objectives
- developing the research plan
- implementing the research plan
- interpreting and reporting findings
3 types of research
exploratory, descriptive, and casual
exploratory research
gather preliminary information that will define the problem and suggest hypothesis
descriptive research
describe things, ex. consumers who buy the product
casual research
test Hypothese about cause and effect relationship
collection of primary
questionnaires and mechanical devices
ethnographic research
sending observers to watch and interact with consumers in their natural environments
