Marketing Information

Marketing Information

1. Definition

   • Required to make Correct Designs Regarding the Need for Product Innovation, Effectiveness of Promotion & Customer Perceptions of Brand.

2. Primary & Secondary Data

   • Primary
     • Market Research Process
   • Secondary
     • Internal - Marketing Intelligence, Adaptable Info
     • External - Published Material, Computer DataBases, Syndicated Services

3. The Marketing Information System

   • Formal Collection of Analysed Marketing Info, Regularly Distributed to Managers when Needed
     • Environmental Scanning
     • Internal Marketing Information
     • Market Research
     • Marketing Intelligence

4. Market Intelligence

   • Secondary Data
     • Secondary (External) Info Regarding Current Trends / Developments in Market, Customers & Competitors
   • Syndicated Services
     • Firms Regularly Collect Research Data & Sell this Data to Companies

5. Internal Marketing Information

   • Marketing Databases
     • Collection of Previously Gathered Customer Info - Past Transactions etc. Allows for Further Segmentation to Refine Marketing Mixes
   • Customer Relations Management (CRM) Systems
     • Highlights more 'Valuable' Customers. Measure Proportions of Customer Retention, Defection & Aquisition.
   • Website Analysis
     • Measurement of Customer Activity on Website. Highlights Trends & Behavioral Data
   • Internally Generated Information. Most Useful for Developing Deep insights into Current Customers.

6. Market Research & Environmental Scanning

   • Market Research
     • See Other Notes
   • Environmental Scanning
     • See Other Notes