Managing Marketing Information to Gain Customer Insights

8 important questions on Managing Marketing Information to Gain Customer Insights

What is customer insights?

Fresh understanding of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships.

What is marketing information system (MIS)?

Consists of people and producers for assessing information needs, developing needed information, and helping decision makers to use the information to generate and validate useful customer market insights.

All the information managers ask for, may not be available for 2 reasons, which?

1. Costs of obtaining are higher than the benefits
2. MIS is not able to provide such information
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What are the 3 sources of marketing information?

1. Internal data
2. Competitive marketing intellgence
3. Marketing research

What are internal databases?

Electronic collections of consumer and market information obtained from data sources within the company network.

What is competitive marketing intelligence?

The systematic collection and analysis of publicly available information about consumers, competitors and developments in the marketing system.

Name 3 examples of software that helps with CRM?

1. Oracle
2. SAS
3. Salesforce

How can collected information easily be distributed within the company?

Companies use for example intranet.

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