Question: One of the major trends over the past few years in marketing research is the use of "Big data". This is data, usually collected at individual customer level across a variety of platforms - online and offline, which gets merged into a "big dataset" to create a quite detailed picture of customer behavior.
Have a look at the following NY Times article, which gives a very nice overview of how "big data" is used by marketers.
What are the opportunities for marketers associated with using this type of data? How reliable/useful are these types of analyses?
In your opinion, are there any ethical concerns when using this type of data? What are some of these ethical risks - and what could be done about it?
For one of the companies/products below, discuss how to build and use a SWOT analysis grid. In your opinion, what are the most relevant internal and external factors for the company?
Strengths: what is company good at?
Weaknesses: what needs work?
Opportunities: what is going on in marketplace?
Threats: what should company be wary of?
Based on your analysis, what are some SMART objectives the company might consider including in their 3 - 5 year strategic plan?