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Marketing Information Management and Customer Insights Study Guide

This guide covers the essential concepts of social responsibility and the cultural environment within marketing. It explains socially responsible behavior, including brand activism and cause-related marketing, and differentiates between core and secondary cultural values. The guide also details the strategic responses of reactive and proactive firms to environmental forces, providing insights for effective marketing strategies.

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Introduction to Marketing Concepts and Value Creation

Introduction to Marketing Concepts and Value

This course provides an introduction and overview of how people and organizations create value through marketing.

  • fundamental marketing concepts
  • marketing in organizations
  • global marketplace
  • consumer judgment and decision making
  • macro-environment
  • segmentation, targeting, and positioning
  • 4P’s (product, price, promotion, and place)
  • ethical dilemmas

Marketing Information and Research Processes

Managing Marketing Information for Customer Insights

Companies use a marketing information system to assess information needs and develop customer and market insights through internal databases, competitive marketing intelligence, and marketing research.

  • customer insights
  • marketing information system
  • internal databases
  • competitive marketing intelligence
  • marketing research
  • big data
  • information technology

The Marketing Research Process

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

  • Marketing research process
  • Exploratory research
  • Descriptive research
  • Causal research
  • Secondary data
  • Primary data collection
  • Observational research
  • Ethnographic research
  • Survey research
  • Experimental research
  • Online marketing research
  • Behavioral targeting
  • Social targeting
  • Sampling plan
  • Probability sample
  • Nonprobability sample
  • Research instruments
  • Mechanical instruments

Customer Relationship Management and Marketing Research

This content covers customer relationship management, marketing analytics, and the processes and ethical issues involved in marketing research.

  • Customer Relationship Management (CRM)
  • Big Data
  • Marketing Analytics
  • Marketing Information Systems (MIS)
  • Marketing Research
  • International Marketing Research
  • Consumer Privacy
  • Consumer Data Security and Protection
  • Research Ethics

Strategic Marketing Planning and Value Creation

Customer Value-Driven Marketing Strategy

Designing a customer value-driven marketing strategy involves market segmentation, targeting, differentiation, and positioning to create value for target customers.

  • customer value-driven marketing strategy
  • market segmentation
  • market targeting
  • differentiation
  • positioning
  • value proposition
  • consumer markets
  • business markets

Major Bases for Market Segmentation

This topic discusses major bases for segmenting consumer, business, and international markets using geographic, demographic, psychographic, and behavioral variables.

  • Geographic segmentation
  • Demographic segmentation
  • Psychographic segmentation
  • Behavioral segmentation
  • Business market segmentation
  • International market segmentation
  • Intermarket segmentation
  • Requirements for effective segmentation

Market Targeting, Differentiation, and Positioning

Companies identify attractive market segments and choose a market-targeting strategy to differentiate and position products for maximum competitive advantage.

  • Market targeting
  • Target market
  • Undifferentiated marketing
  • Differentiated marketing
  • Concentrated marketing
  • Micromarketing
  • Product position
  • Competitive advantage
  • Value proposition
  • Positioning statement
  • Socially responsible target marketing

Company and Marketing Strategy

Explain company-wide strategic planning, mission statements, and setting company objectives and goals to build customer engagement, value, and relationships.

  • Strategic planning
  • Mission statement
  • Market-oriented business definitions
  • Company objectives and goals
  • Business portfolio
  • Growth strategies
  • Customer value-driven marketing strategy
  • Marketing management functions

Designing Business Portfolios and Growth Strategies

Discuss how to design business portfolios and develop growth strategies through portfolio analysis and downsizing.

  • Business Portfolio
  • Business portfolio planning
  • Portfolio Analysis
  • Strategic business units
  • BCG Growth-Share Matrix
  • Market growth rate
  • Relative market share
  • Product/Market Expansion Grid
  • Strategies for growth
  • Downsizing

Marketing Strategy and Customer Value

Marketing's role in strategic planning involves partnering to build customer relationships and creating customer value through an integrated marketing mix.

  • marketing concept
  • strategic planning
  • customer value
  • profitable relationships
  • internal value chain
  • value delivery network
  • suppliers
  • distributors
  • customers
  • customer value-driven marketing strategy
  • marketing mix
  • product
  • price
  • place
  • promotion

Market Segmentation, Targeting, and Positioning

This content covers market segmentation, market targeting, differentiation, positioning, and the four Ps of the marketing mix.

  • Market segmentation
  • Market targeting
  • Market differentiation
  • Positioning
  • Four Ps of the marketing mix
  • Customer value-driven marketing strategy
  • Four As

Marketing Management Functions and Planning

Discuss the importance of measuring and managing marketing return on investment through analysis, planning, implementation, and control.

  • Marketing management functions
  • Marketing plan
  • SWOT Analysis
  • Market implementation
  • Marketing department organization
  • Marketing control
  • Operating control
  • Strategic control
  • Marketing return on investment

Marketing Environments and Buyer Behavior Analysis

Analyzing the Marketing Environment

This content describes the environmental forces, including the microenvironment and macroenvironment, that affect a company's ability to serve its customers.

  • Microenvironment
  • Macroenvironment
  • The Company
  • Suppliers
  • Marketing Intermediaries
  • Competitors
  • Publics
  • Customers
  • Demographic and economic environments
  • Natural and technological environments
  • Political and cultural environments

Company Microenvironment and Macroenvironment Forces

This content explains how changes in the demographic and economic environments affect marketing decisions within the company's microenvironment and macroenvironment.

  • Microenvironment
  • Macroenvironment
  • Demographic environment
  • Economic environment
  • Natural environment
  • Technological environment
  • Demography
  • Generational groups
  • Consumer purchasing power
  • Income distribution

Natural, Technological, and Political Environments

Forces including the natural environment, technological environment, and political, social, and cultural environments influence or limit organizations and individuals in a society.

  • Natural environment
  • Environmental sustainability
  • Technological environment
  • Digital Technology
  • Internet of Things
  • Radio-frequency identification (RFID)
  • Political, Social, and Cultural Environments
  • Major U.S. Legislation Affecting Marketing
  • Nutrition Labeling and Education Act
  • Children’s Online Privacy Protection Act (COPPA)
  • Do-Not-Call Implementation Act
  • CAN-SPAM Act
  • Financial Reform Law
  • Exports Promotion Act
  • Internet of Things Cybersecurity Improvement Act

Social Responsibility and Cultural Environments

Companies develop policies for socially responsible behavior and respond to the cultural environment through reactive or proactive strategies.

  • Socially responsible behavior
  • Brand activism
  • Cause-related marketing
  • Corporate giving
  • Cultural environment
  • Core beliefs and values
  • Secondary beliefs and values
  • Reactive firms
  • Proactive firms

Understanding Consumer and Business Buyer Behavior

This content explores consumer buyer behavior, the buyer decision process, and the major factors influencing consumer markets.

  • consumer buyer behavior
  • consumer market
  • buyer decision process
  • cultural factors
  • subculture
  • social class
  • social factors
  • personal factors
  • psychological factors
  • Maslow’s Hierarchy of Needs
  • need recognition
  • information search
  • alternative evaluation
  • purchase decision
  • postpurchase behavior
  • postpurchase cognitive dissonance

New Product Adoption and Diffusion Process

This material describes the adoption and diffusion process for new products through specific stages and adopter categories.

  • Adoption process stages
  • Awareness
  • Interest
  • Evaluation
  • Trial
  • Adoption
  • Adopter categories
  • Innovators
  • Early adopters
  • Early mainstream
  • Late mainstream
  • Lagging adopters
  • Relative advantage
  • Compatibility
  • Complexity
  • Divisibility
  • Communicability

Business Markets and Buyer Behavior

Understanding business markets and business buyer behavior involves analyzing market structure, demand, and the nature of the buying unit.

  • Business buyer behavior
  • Business-to-business (B-to-B) marketers
  • Business buying process
  • Market structure and demand
  • Derived demand
  • Inelastic and fluctuating demand
  • Nature of the buying unit

Business Buying Behavior and Decision Processes

This content examines business buying behavior, the business buying decision process, types of buying situations, and e-procurement.

  • Business purchases
  • Supplier development
  • Straight rebuy
  • Modified rebuy
  • New task
  • Systems selling
  • Buying center
  • Business buying decision process
  • Problem recognition
  • General need description
  • Product specifications
  • Proposal solicitation
  • Supplier selection
  • Order-routine specification
  • Performance review
  • E-procurement
  • Reverse auctions
  • Online trading exchanges
  • Business-to-business digital and social media marketing

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