Marketing-Information Management – Standard 3
Data obtained for the first time and used specifically for the particular problem or issue under study.
Data already collected for some purpose other than the current study.
A formal, written document that directs a company’s activities for a specific period of time.
Marketing-Information Management Function
Gathering, storing, and analyzing information, customers, trends, and competing products.
Internet, telephone, face-to-face, focus groups, and panels are examples.
Secret shoppers, store cameras, and watching customers’ reaction to products are examples.
Taste tests, test marketing, or product sampling are examples. Hypothesis based.
U.S. Census, Department of Commerce data, and employment reports are examples.
The process of developing, promoting, and distributing ideas, goods, or services to create exchanges that satisfy customer needs and wants.
Marketing Planning Function
Understanding concepts and strategies used to develop and target specific marketing strategies to a select audience.