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Copy of Copy of Marketing Information System and Marketing Research
Transcript of Copy of Copy of Marketing Information System and Marketing Research
2. Facilitates Marketing Planning and Control: - product planning, pricing, promotion and distribution
3. Quick supply of information
4. Quality of decision Making
5. Tapping of business Opportunities
6. Provides Marketing Intelligence
7. Help managers to Recognize Change
8. Integration of Information Define the marketing information system and discuss its parts
The importance of information to the company.
.Describe the six steps in the marketing research process.
Compare the advantages and disadvantages of various methods of collecting information. Marketers can obtain information from: IMPORTANCE OF MARKETING INFORMATION SYSTEM? Marketing Information Marketing is becoming a battle
based more on information than
on sales power. (Kotler) Marketing research is the function which links the consumer, customer and public to the market through information which is used to identify and define marketing opportunities and problems” “Market research can be understood in terms of how the activity is carried out designing questionnaires, planning respondent samples, methods of data collection and analysis Market research is very narrow concept it is simply a research into a specific market, whereas marketing research is much broader.
IMPACT OF MARKETING RESEARCH - Increase in product
and service qualities
- Expansion of choice
- Increased customer
- Awareness of
customer needs - Rise of
- Growth of market
- Increased customer
expectations POSITIVE NEGATIVE Time
Changes of external environment
It is not a decision making management tool
Does not guarantee success
Customers might does not know what they want exactly LIMITATIONS OF MARKETING RESEARCH
“ (MKIS) is a structure of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision-makers” MARKETING INFORMATION SYSTEM (MKIS) Marketing intelligence Internal data Marketing Research Are electronic collections of consumer and market information obtained from data sources within the company network, including :
1-accounting(order-to-payment cycle )
2-Sales information system
3-Data base,Data Warehousing and data mining (such data called Results data) A set of procedures and sources used by managers to obtain everyday information about pertinent developments in the marketing environment presented by :
Sherin Assessing Marketing Information Needs
Amount of information
Availability of information
Costs True OR False Every marketing research project is unique in its own sense!
A research project can include both problem identification and problem-solving research!
Conducting market research guarantees success!
Marketing research can assist in decision making process!
Internal data collection is a component of MKIS! is the systematic collection and analysis of publicly available information about competitors and developments in the marketplace.
The goal of marketing Research is to:
Improve strategic decision making,
Assess and track competitors’ actions, and
Provide early warning of opportunities and threats How we can make it More effective ? Train and motivate the sales force to spot and report new developments.
Motivate distributors, retailers, and other intermediaries to pass along important intelligence.
Network externally. The firm can purchase competitors' products; attend open houses and trade shows; read competitors' published reports; attend stockholders' meetings; talk to employees, dealers, distributors, suppliers, and freight agents
Set up a customer advisory panel.
Take advantage of government data resources.
Purchase information from outside suppliers. Well-known data suppliers include the A.C. Nielsen Company
Use online customer feedback systems to collect competitive belligerence. Other Marketing Information Considerations Marketing Research in Small Businesses and Nonprofit Organizations
Need information about their industry, competitors, potential customers, and reactions to new offers
Must track changes in customer needs and wants, reactions to new products, and changes in the competitive environment Public Policy and Ethics in Marketing Research Intrusions on consumer privacy
Misuse of research findings Small companies can hire the services of a marketing research firm or conduct research in creative and affordable ways such as:
1.Engaging students or professors to design and carry out projects.
2.Using the internet.
3.Checking out rivals The Marketing Research Process Important , however limitations.
Concerned about data security
Popper effort required. Marketing managers must be careful not to define the problem too broadly or too narrowly for the marketing researcher Define the Problem, the Decision Alternatives and the Research Objectives Develop the Research Plan Types of Data Secondary data
Information that already exists somewhere, having been collected for another purpose
Information collected for the specific purpose at hand To design a research plan, we need to make decisions about the data sources, research approaches, research instruments, sampling plan and contact methods. The data collection phase of marketing research is generally the most expensive and the most prone to error Collect the Information Data collection methods are rapidly improving thanks to computers and telecommunications.
we have to adapt culturally to how, where, and with whom we are doing the research. A simple research study conducted globally becomes much more complicated as a result of the cultural nuances, and it 's necessary for us . Analyze the Information The next to last step in the process is to extract findings by tabulating the data and developing frequency distributions. The researchers now compute averages and measures of dispersion for the major variables and apply some advanced statistical techniques and decision models in the hope of discovering additional findings. They may test different hypotheses and theories, applying sensitivity analysis to test assumptions and the strength of the conclusions. Present the Findings The researcher presents findings relevant to the major marketing decisions facing management. Researchers increasingly are being asked to play a more proactive, consulting role in translating data and information into insights and recommendations. They are also considering ways to present research findings in as understandable and compelling a fashion as possible. Make the Decision The managers who commissioned the research need to weigh the evidence They may even decide to study the issues further and do more research. The decision is theirs, but rigorously done research provides them with insight into the problem.
A growing number of organizations are using a marketing decision support system to help their marketing managers make better decisions. (MDSS) as a coordinated collection of data, systems, tools and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action. Incomplete information
Wrong form for decision making
Timeliness of information
Amount of information
Need for sophisticated equipment and techniques Can be accessed more quickly
Less expensive Advantages and Disadvantage of Internal Databases Advantage Disadvantage Disadvantage Maintenance, complexity and setting up
a MIS are one of the major hindrances to Marketing information systems.
Furthermore, wrong information being fed in MIS can become cumbersome and appropriate filters need to be established. Questions
Thank you Tips A good MIS balances the information users would like to have against what they need and what is feasible to offer. Issues to consider: