Tuesday, July 26, 2005

How companies analyze and distribute marketing information

Information gathered in internal databases and through marketing intelligence and marketing research usually requires more analysis. This may include advanced statistical analysis for the application of analytical models that will help marketers make better decisions. In recent years, marketers have paid special attention to the analysis of individual customer data. Many companies have now acquired or developed special software and analysis techniques -- called customer relationship management (CRM) -- that integrate, analyze, and apply the mountains of individual customer data contained in their databases.

Marketing information has no value until it is used to make better marketing decisions. Does, the marketing information system must make the information available to the manager's and others who make marketing decisions or deal with customers. In some cases, this means providing regular reports an update; in other cases it means making nonroutine information available for special situations and on the spot decisions. Many firms use company intranets and extranets to facilitate this process. Thanks to modern technology, today's marketing managers can gain direct access to the information system at any time and from virtually any location.

Public policy and ethic issues.

Some marketers pay special marketing research situations, such as those conducting research and small businesses, nonprofit, or international situations. Marketing research can be conducted effectively by small businesses and nonprofit organizations with limited budgets. International marketing researchers follow the same steps as domestic researchers but often face more and different problems. All organizations need to respond responsibly to major public policy and ethical issues surrounding marketing research, including issues of intrusions on consumer privacy and misuse of research findings.