Week 6/ MKT 574

Source

What it Measures

Data Type

Potential Data Usage

Example: Sales data

Example: Monthly sales by specific product

Example: Average sales that month in US dollars for each of 10 products; data can be segmented by business and consumer markets

Example: Trend analysis, projections, measuring effectiveness of promotions

Inventory records

Stock levels of each product

Quantity of each product in stock, reorder points

Inventory management, identifying stockouts and surplus, optimizing reorder points

Customer database

Customer demographics, purchase history

Names, addresses, buying patterns

Customer segmentation, targeted marketing, personalized recommendations

Employee records

Employee information, roles, and performance data

Names, job titles, performance metrics

Workforce planning, performance evaluations, identifying training needs

Production logs

Production output, defect rates

Quantity of units produced, defect counts

Quality control, production efficiency analysis, identifying production bottlenecks

Financial statements

Company's financial performance

Revenue, expenses, profits

Financial analysis, budgeting, assessing profitability and financial health

Website analytics

Website traffic, user behavior

Page views, click-through rates

User experience optimization, identifying popular content, tracking marketing campaign effectiveness

Source

What it Measures

Data Type

Potential Data Usage

Example: Focus group

Example: Product usage, motives, group satisfaction, decision process

Example: Qualitative

Example: Identify market segment reactions, marketing opportunities, product/service feedback

Customer surveys

Customer preferences, satisfaction levels, feedback

Quantitative

Measure customer satisfaction, identify areas for improvement, assess the effectiveness of marketing strategies

Observational studies

Behavior of customers in real-life settings

Qualitative

Understand customer behavior patterns, evaluate effectiveness of store layouts, product placements

Online analytics

Website traffic, click-through rates, user engagement

Quantitative

Track online user behavior, optimize website content, assess the impact of online marketing efforts

Social media monitoring

Brand mentions, sentiment analysis, engagement levels

Qualitative

Monitor brand perception, identify trends, engage with customers, assess the success of social media campaigns

In-person interviews

In-depth insights into customer opinions, preferences

Qualitative

Gather detailed customer perspectives, uncover deeper insights, refine marketing strategies

Source

What it Measures

Data Type

Potential Data Usage

Example: U.S. Census Bureau

Example: Income over the last 4 years by family structure

Example: Demographic

Example: Market share analysis, identifying customer segments based on income levels

Industry Reports

Market trends, competitor analysis

Market data

Understanding industry dynamics, benchmarking against competitors, identifying growth opportunities

Academic Research Papers

Consumer behavior, market trends

Qualitative

Gaining insights into consumer preferences, validating hypotheses, informing marketing strategies

Nielsen Ratings

Television viewership data, audience demographics

Quantitative

Targeting specific demographics with TV advertisements, understanding viewer preferences

Social Media Analytics

Social media trends, brand mentions, engagement levels

Quantitative

Monitoring brand reputation, tracking sentiment, assessing the impact of social media campaigns

Government Health Agencies

Health statistics, disease prevalence

Statistical

Identifying health-related trends, understanding public health concerns, tailoring health-focused campaigns

CRM Touchpoint

Purpose and CRM Objective

Data Type

Potential Data Usage

Example: Customer profile information on website

Example: Starts the account for visitors: name, geography, email address (customer acquisition)

Example: Demographic

Example: Track new customer sign-ups, segment customers by geography, personalize marketing messages

Presale inquiry form

Capture customer inquiries: geographic location, customer ID, source of reference

Qualitative

Understand customer interests, track lead sources, tailor follow-up communication based on inquiry details

Post-sale transaction records

Record address, product purchased, quantity, price (customer retention)

Transactional

Analyze purchase history, identify popular products, calculate customer lifetime value

Loyalty program data

Points earned, rewards redeemed (customer retention and profitability)

Transactional

Measure customer engagement with the loyalty program, analyze redemption patterns, reward high-value customers

Customer service interactions

Record of customer inquiries, issues, resolutions (customer satisfaction)

Qualitative

Assess customer satisfaction levels, identify areas for improvement in customer service processes

Email marketing campaign responses

Open rates, click-through rates, conversions (customer engagement)

Quantitative

Evaluate the effectiveness of email campaigns, identify interests based on clicked links, improve targeting and content