Collecting information and forecasting demand
5 important questions on Collecting information and forecasting demand
What are the 3 elements of internal company records and explain
- database, data warehousing and data mining: this is where you keep all information of your customers so that you can send highly personalised mails to them with the info that regards them f.e datamining (beer and diapers next to each other)
- order to payment cycle: order, processing and delivery in a timely and accurate manner
- sales information system: cookies, price discrimination with flights and hotels
What are the 3 steps you do for market intelligence
- market intelligence system
- collecting data from internet
- communicating and acting on market intelligence
What is the market intelligence system and what are the 2 rules for having it
-it must be legal and ethical
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How do campanies manage to collect data from the internet
3 types of demand measurement
-product level: 1 product sales, product line sales, company sales, industry sales, all sales
- time level: short run, mid run , long run
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