MANAGING MARKETING INFORMATION TO GAIN CUSTOMERS INSIGHTS
Acquiring and managing marketing information is essential for gaining valuable customer insights. This process involves designing a well-structured marketing research plan with clear objectives and a defined budget.
MANAGING MARKETING INFORMATION TO GAIN CUSTOMERS INSIGHTS
Defining the Problem and Research Objectives
Casual research
Descriptive research
Exploratory research
Marketers Obtain Information from
Marketing Research
Syestematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization
Marketing Intelligence
The systematic collection and analysis of publicly available information about customers, competitors and developments in the marketplace
Internal Data
Electronic collection of consumers and market information obtained from data sources within the company
Marketing Information System (MIS)
Helping decision makers use the information for customer
Developing needed information
Assessing the information needs
Customer Insights
Use insights to create more value for their customers
Collect information from a wide variety of sources
TouchPoint (CRM)
Customers purchases, Sales force contacts, Service and support calls, Website visits, Satisfaction surveys, Credit and payment interactions, Research studies
Customer Relationship Management (CRM)
Managing detailed information about individual customers and carefully manging customer touch points to maximize customer loyalty
Primary Data
Planning primary data collection
Research approaches, Contact menthods, Sampling plan, Research Instruments
Information gathered for the special research plan
Secondary Data
Disadvantages
Current, Relevant, Accuracy, Impartial
Advantages
cost, Speed, Could not get data otherwise
Information that already exists somewhere, having been collected for another purpose