MANAGING MARKETING INFORMATION TO GAIN CUSTOMERS INSIGHTS

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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

Marketing Research Written Research Plan

Budget

How the result will help management decisions

Information needed

Research objectives

Management problem