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Week 2 DB (20pts) Datamining and other forms of Marketing Research First post

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Q This week I've put a whole bunch of extra links in the week 2 folder. There is so much to learn about marketing research which is where we will put your focus this week. Those of you who have taken BUS619 have a little bit of a leg up this week because you already know quite a bit about voice of the customer and marketing research. Please watch the following CBS News Video "The End of Privacy": http://www.cbsnews.com/videos/the-data-brokers-selling-your-personal-information-2/ Or it may still be available for free on youtube (click the video on the right side or copy and paste https://www.youtube.com/watch?v=qAT_ina93NY ) 1. How can companies collect 'good data' (what constitutes good data) and how does this lead to positive outcomes for the customer? 2. Based on the video case study do you believe that all forms of data collection are in the best interest of the customer (check out the American Marketing Association statement of ethics and ethical values. 3. What really IS the value of a customer? Is it lifetime? Should marketers look at a sale as more than just one sale? 4. How can marketers cultivate a strong relationship with customers? And how does the data collection method affect this relationship?

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Companies can collect good data by ensuring that there is identification of the need to collect specific types of data. This is because without the process of needs identification, the beginning of the process of data collection can be ineffective and unnecessary. If specific type of data is not required to be collected, it should never be tried to be collected. When there is recognition of the problem for which data-collection is required, the initiation of collection of good data can be justified (Kotler & Keller, 2016).