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Topic 3 Managing marketing information to gain customer insight - Coggle…
Topic 3 Managing marketing information to gain customer insight
Customer Insights are fresh marketing information-based understandings of customers and the marketplace that for creating customer value,engagement, and relationship.
Marketing information and Customer Insights
Customer Insights
Fresh and Deep insights into customer needs
Insights can be difficult to be obtain
Companies use customer insights to develop a competitve advantage
Marketing Information and Today's 'Big data"
Big data is the huge complex data sets generated by today's
Big data is comes from marketing research, internal transaction data and real-time data flowing from social media monitoring
Managing marketing information
Customer Insights Teams:
Include all company functional areas
Collection information
Use insights to create more value for their customers
Marketing Information Ecosystem (MIE)
People, processes, and assets dedicated to assessing, developing , and applying that information to generate and validate customer and market insights.
Assessing Marketing Information Needs
External Partners
Characteristics of a good marketing
information ecosystem
Balancing the information users would like, need, and feasible.
User's needs
Marketings Information Ecosystem Offering
Developing Marketing information:
Marketers obtain information from
Internal data
Marketing intelligence
Marketing research
Internal Data
Internal databases are collections of consumers from data sources within the company network.
Competitve Marketing Intelligence
the systematic collection and analysis of publicly available information
Marketing Research
the systematic design, collection, analysis, and reporting of data
Traditional Marketing Research
in transition
Traditional mainstays such as in-person research surveys and focus groups
Defining the Problem and Research Objectives
Exploratory research
Descriptive research
Causal research
Developing the Research Plan
Outlines sources of existing data
Spells out the specific research approaches, contact methods and instrucments to gather data
Defining the Problem and Resarch Objectives
Written proposal
Management problem
Research objectives
Information needed
How the results will help management decisions
Budget
Developing the Research Plan
Secondary data:
information that already exists somewhere, having been collected for another purpose.
Primary data:
information collected for the specific purpose at hand.
Gathering Secondary Data
Advantage:
Lower Cost
Obtained Quickly
Cannot collect otherwise
Disadvantages: Data may not be
Relevant
Accurate
Current
Impartial
Primary Data Collection
Research Approaches
Contact methods
Sampling Plan
Research Instrucments
Research Approaches
Observatial Research
Ethnographic Research
Survey Research
Experimental Research
Primary Data Collection: Contact methods
Online marketing research
Internet and mobile surveys
Online focus group
Customer tracking
Online behavioural and social tracking and targeting
Behevioural targeting
Online listening
Social targeting
Types of samples
Probability sample:
Simple random sample
Stratified random sample
Cluster (area) sample
Nonprobability sample
Convenience sample
Judgement sample
Quota sample
Implementing the Research Plan:
Collecting the information
Processing the information
Analyzing the information
Interpreting and Reporting findings
interpreting findings
Draw conclusions
Report to management
Analyzing and Using
Marketing Information
Customer Relationship Management (CRM)
involves managing detailed information about
individual customers and carefully managing
Big data, marketing analytics, and Artificial Intelligence
Other marketing information considerations
Marketing research in small businesses and
nonprofit organizations
International market research
Public policy and ehtics
-Customer policy
-Misuse of research findings