Marketing
Lowe’s Use of Information Sources Mary K Moore-Hudson
Capella University
Professor Ted Framan
Lowes uses several resources for information to help build their marketing decision support system and its customer relationship management. Market research technology is a big benefit for making marketing decision. The use of powerful software tools and online technologies bring research to any level in the organization (Johnson & Marshall, 2010 p.139).
One source of marketing research that Lowes uses is online surveys. Lowes gives online surveys with chances of winning a five thousand dollar gift card. This prize is used as an incentive for Lowe’s customers to fill out surveys. These surveys ask customers about their recent purchases and recent visit to Lowe’s. It allows customers to voice their opinions, likes or dislikes. Online surveys allows Lowe’s to obtain information that can help better customer service and product service in the store or online. This is a form of online sampling. Online sampling has become increasingly popular as a data collection methodology (Johnson & Marshall, 2010 p.130).
Another source of marketing research is the “My Lowe’s Program.” The “My Lowe’s Program” is a program that allows customers to keep track of purchases for inventory purposes. It monitors customers’ inventory purchases and also sends restocking alerts when customers are reaching a low stock level. It stores receipts for retuning merchandise and also sends helpful hints, ideas, and tips to improve ongoing or potential home or business improvements at minimum cost. The “My Lowe’s Program” is an online database. An online database is data stored on a server that is accessed remotely over the Internet or some other telecommunications network (Johnson & Marshall, 2010 p.130). This database is available to the employees, suppliers, and even customer. This allows the Lowe’s
Capella University
Professor Ted Framan
Lowes uses several resources for information to help build their marketing decision support system and its customer relationship management. Market research technology is a big benefit for making marketing decision. The use of powerful software tools and online technologies bring research to any level in the organization (Johnson & Marshall, 2010 p.139).
One source of marketing research that Lowes uses is online surveys. Lowes gives online surveys with chances of winning a five thousand dollar gift card. This prize is used as an incentive for Lowe’s customers to fill out surveys. These surveys ask customers about their recent purchases and recent visit to Lowe’s. It allows customers to voice their opinions, likes or dislikes. Online surveys allows Lowe’s to obtain information that can help better customer service and product service in the store or online. This is a form of online sampling. Online sampling has become increasingly popular as a data collection methodology (Johnson & Marshall, 2010 p.130).
Another source of marketing research is the “My Lowe’s Program.” The “My Lowe’s Program” is a program that allows customers to keep track of purchases for inventory purposes. It monitors customers’ inventory purchases and also sends restocking alerts when customers are reaching a low stock level. It stores receipts for retuning merchandise and also sends helpful hints, ideas, and tips to improve ongoing or potential home or business improvements at minimum cost. The “My Lowe’s Program” is an online database. An online database is data stored on a server that is accessed remotely over the Internet or some other telecommunications network (Johnson & Marshall, 2010 p.130). This database is available to the employees, suppliers, and even customer. This allows the Lowe’s
References: Johnston, M. and Marshall G. (2010). Marketing Management. New York: McGraw-Hill Irwin.