MANAGEMENT

Detailed explanation-1: -What useful data can marketers gather from competitors? From competitors, marketers can take easily observable data such as a competitor’s current product offerings and promotional campaigns.

Detailed explanation-2: -Which of the following is a question that might be answered by analyzing the data a company retrieves for marketing decision making: How can we be more competitive?

Detailed explanation-3: -Data-driven marketing is the approach of optimising brand communications based on customer information. Data-driven marketers use customer data to predict their needs, desires and future behaviours. Such insight helps develop personalised marketing strategies for the highest possible return on investment (ROI).

Detailed explanation-4: -How do marketers use data to identify problems or issues? Marketers keep an eye on product, customer service, vendor/supplier, and salespeople data in order to determine if any adjustments need to be made.