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Developing Information, Launching Challenge, & Types of Data

1. Internal company databases are used by many marketing managers for identifying marketing opportunities and problems, planning programs and evaluating performances.

How do internal company databases differ from marketing intelligence and marketing research as methods for developing marketing information?

2. Which do you believe presents a greater challenge, launching a new product or attempting to revive an older one? Please explain your reasoning.

3. The systematic gathering of data, which you mention in your definition of marketing research, consists of two types. They are primary data collection and secondary data collection.

Primary data collection is obtained through observations and questionnaires. Secondary data collection is information which has already been collected by internal and external sources.

Could you please elaborate on primary data collection and explain why it is important to developing a marketing strategy?

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1. The internal company databases provide information that the others do not. It provides information about people and their complaints, needs and concerns along with compliments that are specific to your company and your market. By tapping into the already established customers, the information you gain can be applied directly to your marketing needs and issues while taking care of the customer in a more informal and indirect way. People actually think you make changes because they contacted you, so companies should use that to their advantage.

2. I think they are equally challenging and dependent on the circumstances ...

Solution Summary

The solution discusses the methods for developing information, launching challenge and types of data.