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Are there specific tools (e.g. crm, big data tools) that should be part of your firm’s toolkit?
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Enhanced target customers and how to reach them deliverable
In this week’s virtual marketing team meeting, a suggestion for producing this week’s deliverable was
discussed. You came away happy that you were taking notes. You were advised to identify the critical
points that you need to make for this deliverable first, prioritize them, and then preform a thorough a
review of the previous deliverable, the feedback you were provided, and select the topics and material
that is no longer as important or relevant given these new requirements and insights. Determine where
the new material logically fits into the flow of your previous submission and iteratively refine the content ensuring the high-priority items are explained well and are adequately supported by references.
a. What process elements do you believe are critical to ensure your organization understands the target market and its needs today and remains knowledgeable and informed about trends as your business
grows and technology and market forces change the market? Are there specific tools (e.g. CRM, big
data tools) that should be part of your firm’s toolkit? If so, explain what value they bring, how they fit
into your process, and way they are worth the investment of time, money, and mind share during the
critical startup phase.
b. You also heard that your ability to justify your targeting and segmenting was going to be valued highly, so you need to be sure that you understand and can properly apply the segmenting lessons learned
from your reading and any research you may have performed. Historically, how has segmenting been
used to address individual and business customers? Are there new trends that might change the way
you might use segmenting?
c. It is also clear that those evaluating your work have a bias toward the use of data in marketing, selling, and product development activities. You need to convince your readers that you have truly considered the relevant market research options (e.g. big data), have evaluated each, and have come to a
well-reasoned and defendable conclusion.
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