Select a product with a marketing problem of your choice. Then, write a three- to four- page paper (excluding the title and reference pages) based on the issues below.
Select a product with a marketing problem of your choice. Then, write a three- to four- page paper (excluding the title and reference pages) based on the issues below.
Describe the primary marketing problem facing the product you have chosen.
Describe three sources of secondary information that might be in the company’s marketing information system.
Describe two types of proprietary corporate information that the company might collect for its marketing information system.
Explain why you think the information in the marketing information system could help solve the marketing problem facing the company OR why the company would need to gather additional primary information.
References YOU CAN USE
Burns, A. C., & Bush, R. F. (2012). Basic marketing research: Using Microsoft Excel data analysis (3rd ed.). Pearson College Division. https://redshelf.com
(THIS IS THE TEXTBOOK WE ARE USING)
Insights Association. (2017). MRA code of marketing research standards. Retrieved from http://www.insightsassociation.org/issues-policies/mra-code-marketing-research-standards
“1. Keefe, L. M. (2004, September 15). What is the meaning of “marketing”? Marketing News, pp. 17–18. Chicago: American Marketing Association.
2. Vargo, S. L., and Lusch, R. F. (2004). Evolving to a new dominant logic for marketing. Journal of Marketing, vol. 68, no. 1, pp. 1–17.
3. Shostack, G. L. (1977). Breaking free from product marketing. Journal of Marketing, vol. 41, no. 2, p. 74. Shostack’s original example used General Motors.
4. Hodock, C. L. (2007). Why Smart Companies Do Dumb Things. Amherst, NY: Prometheus Books, 181.
5. Drucker, P. (1973). Management: Tasks, Responsibilities, Practices. New York: Harper & Row, 64–65.
6. Glancey, J. (1999, October). The private world of the Walkman. The Guardian.
7. Kotler, P., and Keller, K. (2009). Marketing Management. Upper Saddle River, NJ: Prentice Hall, 19.
9. Bennett, P. D. (Ed.). (1995). Dictionary of Marketing Terms (2nd ed.). Chicago: American Marketing Association/NTC Books, 169.”
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Challenges Marketers Are Facing and Why Identity Resolution Matters
You need to know who your customers are to market to them effectively. Today, we have more information about customers at our fingertips than ever before, but organizing and making sense of this data is a challenge — especially when it comes from numerous devices for a single customer.
The process for making sense of these multi-device data points is known as identity resolution, cross-device identification, or cross-device targeting. It involves combining multiple data points on consumers collected from multiple platforms to create a single, comprehensive view of your consumers.
Marketers can gather anonymized data from almost any data sources, including laptop browsers, smartphones, tablets, email subscriptions and even offline purchases. The more parts you can combine, the more complete your picture of the consumer will be, enabling you to more effectively target your marketing to them, personalize their experience and track your interactions with them. In the end, this helps you reach them at the right spot along the sales funnel.
Consumers’ use of multiple channels to shop, engage, and interact with brands provides both opportunities and challenges for marketers. On one hand, each interaction feeds to the growing amount of data available about consumers, which gives marketers more information about their prospects than they ever had before. More data means that they can target their ads much more effectively and personalize their campaigns based on individual consumers. And yet, without the ability to effectively organize and analyze the data to uncover meaningful insights, it is meaningless. The following are some of the predominant hurdles that modern marketers face, which identity resolution can help overcome.
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