Uses & limitations of marketing data

Question 1

What is some data used when making decisions in marketing:

Answer 1

Primary market research

Past sales data

Quantitative information
Qualitative information

YED data
PED data

Question 2

What does the data the we use in making decisions in marketing allow us to do?

Answer 2

Understand customers and competitors - allows them to understand their market a lot better.

Identify competitors and differentiate / USP

Develop product portfolio - YED

Set sales forecast and targets - setting budgets