Scribd Logo
Upload

Welcome to Scribd!

  • 20 views

    Chapter 4

    Uploaded by

    Ak Al
    Marketing information and customer insights help organizations understand customer preferences and buying behavior, allowing them to make informed decisions and avoid potential failures. A marketing information system gathers, stores, analyzes, and distributes marketing data to decision-makers. It obtains internal market information like customer demographics and purchasing histories from stored databases and salespeople. Market intelligence aims to create a large information pool from which meaningful conclusions can be drawn. Marketing research systematically designs, collects, analyzes and reports data relevant to a specific marketing situation, and can be ad-hoc, continuous, exploratory, descriptive, or aimed at establishing causal relationships. It also differs based on its use of qualitative versus quantitative methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Chapter 4

    Uploaded by

    Ak Al
    20 views2 pages
    Marketing information and customer insights help organizations understand customer preferences and buying behavior, allowing them to make informed decisions and avoid potential failures. A marketing information system gathers, stores, analyzes, and distributes marketing data to decision-makers. It obtains internal market information like customer demographics and purchasing histories from stored databases and salespeople. Market intelligence aims to create a large information pool from which meaningful conclusions can be drawn. Marketing research systematically designs, collects, analyzes and reports data relevant to a specific marketing situation, and can be ad-hoc, continuous, exploratory, descriptive, or aimed at establishing causal relationships. It also differs based on its use of qualitative versus quantitative methods.

    Original Title

    Chapter 4 (3)

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Marketing information and customer insights help organizations understand customer preferences and buying behavior, allowing them to make informed decisions and avoid potential failures. A marketing information system gathers, stores, analyzes, and distributes marketing data to decision-makers. It obtains internal market information like customer demographics and purchasing histories from stored databases and salespeople. Market intelligence aims to create a large information pool from which meaningful conclusions can be drawn. Marketing research systematically designs, collects, analyzes and reports data relevant to a specific marketing situation, and can be ad-hoc, continuous, exploratory, descriptive, or aimed at establishing causal relationships. It also differs based on its use of qualitative versus quantitative methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    20 views2 pages

    Chapter 4

    Uploaded by

    Ak Al
    Marketing information and customer insights help organizations understand customer preferences and buying behavior, allowing them to make informed decisions and avoid potential failures. A marketing information system gathers, stores, analyzes, and distributes marketing data to decision-makers. It obtains internal market information like customer demographics and purchasing histories from stored databases and salespeople. Market intelligence aims to create a large information pool from which meaningful conclusions can be drawn. Marketing research systematically designs, collects, analyzes and reports data relevant to a specific marketing situation, and can be ad-hoc, continuous, exploratory, descriptive, or aimed at establishing causal relationships. It also differs based on its use of qualitative versus quantitative methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Chapter 4

    Marketing

    Importance of marketing information & customer insights?


    Marketing Helps in formulating an organizations strategy according to the customers
    info preferences and buying behavior
    Customer Help organizations in making important informed decisions
    insights
    *companies can avoid potential disasters with proper market research

    What’s marketing information system?


    Helps in gathering, storing, analyzing and distributing marketing info to the decision makers in
    an organization.

    Main types of internal market information?


    Market info is obtained thru stored databases & sales people.
    1. Demographic “existing customers”: purchasing habit, past transaction & lifestyle
    2. Customer relationship management system: collect large amount of data and organize
    them

    What is market intelligence?


    A process which aim to create large information pool from which data can be selected and
    process to arrive at meaningful conclusions.

    Different dimensions of marketing research?


    Can be directed towards:
    Solving a particular problem
    Monitor changes that take place over a period of time
    Can focused towards:
    Solving specific issues
    Collecting data for selling to other organizations who need it

    Marketing research
    Marketing research is defined as the systematic design, collection, analysis and reporting of
    data relevant to a specific marketing situation

    Type of marketing research


    Ad-hoc research: Focuses on a specific marketing problem and involves the collection of data at
    one point in time (ex: customer satisfaction survey)
    Continuous research: conducting the same research on the same sample repeatedly to monitor
    the changes that are taking place over time. (popular trends)
    Main stages in MR process
    1. Custom research Conducted for a single organization to provide specific answers
    2. Syndicated Collected by firms on regular basis & then sold to other firms
    3. Exploratory Research area to gain some insight
    4. Descriptive Develop stronger conclusions about search problem
    5. casual Establish cause-&-effect relationships

    Difference between qualitative & quantitative research


    Qualitative Quantitative
    1. focus on small samples of data 1. require collection of large data
    2. ex: group interviews & observation 2. ex: exploratory research tool
    studies

    Role of marketing info in society


    1. help firm understand customer behavior and market trend
    2. affect society positively as well as negatively
    3. negative effect: acquiring info by bribing employees
    4. depend on genuineness of the sources info
    5. collection, organization and analysis of data in large amounts

    You might also like