Teach

1. Marketing information management

Functional marketing relies on robust data. Marketing information management systematically gathers and reports on data relevant to your marketing processes. This information includes:

• Determining your target market: To succeed, you must target your strategies to a specific customer group that aligns with your offering and goals.
• Understanding your target market: Once you’ve determined your target market, you’ll need to thoroughly understand their wants, needs, and goals to craft a marketing strategy that resonates with them.
• Conducting a strengths, weaknesses, opportunities, and threats (SWOT) analysis: You’ll need to understand your business’s strengths and weaknesses and your external You should also gather information about regulations that could affect your business and cultural trends.
• Analyzing your competitors: Another aspect of your SWOT analysis that requires careful consideration is your competitive landscape. Know what your competitors do well and not so well, so you can respond strategically and set yourself apart.

You can collect this information through:

• Surveys
• Social media
• Customer reviews of your product and competitors’ products
• Internal data, such as website traffic reports
• Competitive research tools
• Your sales team, who has direct communication with your customers