Database-assisted marketing management involves choosing target markets that not only get new customers but also retain the existing ones. It is a business subject, which is based on research and study of practical applications of marketing techniques and management of the marketing resources.
Anyone who practices techniques associated with this field could be referred to as a marketing manager with additional skills stemming from the ability to query and analyze database reports that improve marketing vision. The role of this kind of marketing manager is to use this analysis to influence the timing and level of customer demand so as to help the sales process.
This role of marketing manager is actually a virtual function and the ultimate naming convention depends on the size of the business and the type of product or service environment we are focusing on. If the work takes place in a huge production company there could be many general managers each assigned a particular product or product category. In this case, the manager would be responsible for database reporting analysis of the product or category and its profit and loss.
In a smaller business environment the marketing manager with database query and reporting credentials of a particular product or service may very well be the owner or partners of the company.
Creating and communicating best customer values can increase the number of customers. The steps taken and resources utilized to maintain existing customers and get new customers fall under database-assisted marketing management. The scope is quite large because it not only consists of developing a product, but also retaining it. The additional burden includes the constant renewal of proven sales and marketing concepts coupled with database query and data analysis necessary to sustain a growing business.
The term database-assisted marketing management has many definitions. The concept actually depends on individual firms and how the marketing department functions and activities of other departments like operations finance, pricing and sales. But our concerns rely mainly on the ability to obtain accurate sales and marketing data and when depending on a database system to deliver this data to us, we naturally turn to database verification, calibration and validation of its inputs and output processes.
Before deciding about a marketing strategy, the company must do an in-depth study about their business, and the market. This is where database-assisted marketing management merges with strategic planning. Usually the marketing strategies are of three types, customer analysis, company analysis and competitor analysis. Using the customer analysis, the market is broken down into different types of customers.
The database-assisted marketing manager realizes the characteristics and other variables of each group. They are geographical location, demographic, customer behavior pattern and need. Groups of people might be recognized as to who can be less price sensitive with growing purchases. Such groups can be worked on by heavy investments as they are worth the money and time.
They cannot only retain such customers and make new customers in this group but they can go to the very extent of turning back customers who don’t belong to this group.Understanding the needs makes customer’s expectations to be met per their satisfaction, better than the competitors, which will lead to higher sales and obvious profit.
Company analysis highlights the cost structure and resources of the company and cost position when compared to competitors. The accounting executives use it to learn about the profit earned by a particular product. From time to time, audits are conducted to study about the strengths of various brands of the company. Here again the functions derived from software database validation audits strengthens the reach of data reliability.
Marketers using competitor analysis build detail customer profiles using validated database queries and reporting techniques. It gives a clear picture about the strengths and weaknesses of the firm, when compared to a competitor. The competitor’s cost structure, resources, competitive positioning, degree of vertical integration, product differentiation, and profits are studied in detail and are compared to what each company is doing in those regards.
The database-assisted marketing analysis introduces additional query and reporting phases that help carry out the marketing research. The most common types of these researches are qualitative marketing research, quantitative marketing research, experimental techniques and observational techniques. All of these research marketing phases are enhanced with the employment of well known database validation processes that are approved by the company
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