Page 96 - Marketing Management

COLLECTING INFORMATION AND FORECASTING DEMAND | CHAPTER 3 73

to other potential buyers and, of course, to marketers seeking information about the consumers
and the competition. There are five main ways marketers can research competitors’ product
strengths and weaknesses online. 18
• Independent customer goods and service review forums. Independent forums include Web
sites such as Epinions.com, RateItAll.com, ConsumerReview.com, and Bizrate.com.
Bizrate.com collects millions of consumer reviews of stores and products each year from two
sources: its 1.3 million volunteer members, and feedback from stores that allow Bizrate.com to
collect it directly from their customers as they make purchases.
• Distributor or sales agent feedback sites. Feedback sites offer positive and negative product
or service reviews, but the stores or distributors have built the sites themselves. Amazon.com
offers an interactive feedback opportunity through which buyers, readers, editors, and others
can review all products on the site, especially books. Elance.com is an online professional
services provider that allows contractors to describe their experience and level of satisfaction
with subcontractors.
• Combo sites offering customer reviews and expert opinions. Combination sites are concen-
trated in financial services and high-tech products that require professional knowledge.
ZDNet.com, an online advisor on technology products, offers customer comments and evalu-
ations based on ease of use, features, and stability, along with expert reviews. The advantage is
that a product supplier can compare experts’ opinions with those of consumers.
• Customer complaint sites. Customer complaint forums are designed mainly for dissatisfied
customers. PlanetFeedback.com allows customers to voice unfavorable experiences with
specific companies. Another site, Complaints.com, lets customers vent their frustrations with
particular firms or offerings.
• Public blogs. Tens of millions of blogs and social networks exist online, offering personal
opinions, reviews, ratings, and recommendations on virtually any topic—and their numbers
continue to grow. Firms such as Nielsen’s BuzzMetrics and Scout Labs analyze blogs and social
networks to provide insights into consumer sentiment.

Communicating and Acting
on Marketing Intelligence

In some companies, the staff scans the Internet and major publications, abstracts relevant news,
and disseminates a news bulletin to marketing managers. The competitive intelligence function
works best when it is closely coordinated with the decision-making process. 19

Ticket broker StubHub monitors
online activity so that when
confusion arose over a rainout
at a New York Yankees game, for
instance, it was able to respond
quickly.