BUS631 Study Guide

Unit 10: Technology and Brand Management

10a. Use prescriptive technology to evaluate brand management decision-making

  • How can prescriptive technology be used in marketing?
  • Why should prescriptive technology be used by a brand manager?
  • How does prescriptive technology influence brand management decision-making?

Prescriptive technology (also known as prescriptive analytics) is a process of analyzing data to improve the marketing of the brand and produce better results. It is important for a brand manager to understand prescriptive technology to create better brand information that may allow the consumer to become loyal to the brand.

By understanding and analyzing the data analytics gathered from your user experience research (pilot studies, interviews, or consumer reviews) study about the brand, you can apply that research directly to marketing. This information should allow for a better customer experience and a better plan to develop and maintain the brand.

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10b. Analyze how predictive technology enhances CRM

  • How can predictive technology enhance CRM?
  • Why would you want to use predictive technology to enhance CRM?
  • What is an example of using predictive technology to enhance CRM?

Predictive technology is software or tools used to better understand patterns in data while remaining focused on the original data. For example, using the data gathered from your user experience research (pilot studies, interviews, or consumer reviews) and utilizing tools to look at that data in a different way (charts, figures, etc.), you may collect new information not seen before that can be applied directly to updates to the brand.

Gathering data about the product or brand is always a good idea, and analyzing that information should allow for a better consumer experience and a detailed plan to develop and maintain the brand. This process also allows for a better consumer experience that can be used in the CRM system, and it will help to develop a better relationship with the customer.

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10c. Evaluate the use of customer relationship management (CRM) software

  • How can CRM software be used to better the brand?
  • Why should you understand CRM software as it relates to marketing?
  • What can CRM software do from a marketing perspective?

Customer relationship management (CRM) is a data drive software that assists a company to utilize customer information and build customer relationships. Every company uses a CRM system, but the software or system used may be different. These systems are typically used by all departments as customer information is recorded and then can be analyzed in numerous ways.

CRM software helps to track customer data, sales, basic information, and purchase history, and it can be used by marketing to assist in predicting patterns in purchases. In addition, various reports may be created with the information that has been inputted into the CRM software over time. This data can be used to assist in marketing and developing the brand.

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10d. Analyze how predictive technology measures consumer behavior

  • How can predictive technology help to measure consumer behavior?
  • Why is it important to understand consumer behavior?
  • What can predictive technology do for marketing?

Predictive technology can be used to better understand patterns in data while remaining focused on the original data; this is a form of data analytics. A brand manager can use data from any existing user experience research (pilot studies, interviews, or consumer reviews) and use predictive tools to review that data in a different way.

This data may be useful information that may predict consumer behavior and be used in consumer marketing. Consumer behavior is important to understanding marketing and may give insight into the consumer thought process. Predictive analysis may be gained from consumer online information or searches or through conducting consumer research.

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10e. Evaluate brand data using predictive technology

  • How can a brand manager use brand data?
  • How can predictive technology be used to evaluate brand data?
  • Why is it important to evaluate brand data?

A brand manager may gather consumer data and research through pilot studies, interviews, or consumer reviews. This brand data is useful and may be used to predict consumer behavior. Using predictive technology might be used to analyze brand data and assist in targeting the marketing to the consumer.

Predictive technology is a form of data analytics that can be used to better understand patterns in data while remaining focused on the original data. A brand manager may use existing research and predictive tools to review that data in a different way and use the results to better the brand or create additional marketing.

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Unit 10 Vocabulary

This vocabulary list includes terms you will need to know to successfully complete the final exam.

  • brand data
  • consumer behavior
  • customer relationship management (CRM) software
  • predictive technology
  • prescriptive technology