MKT Final JASHIM UDDIN-converted.pdf - Answer Sheets of...

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Answer Sheets of Final ExamAssessment (Individual)Subject: Marketing Management (MKT 515.3)Masters of Business Administration (M.B.A)Spring-2021Faculty: Mr. Iftekhar Shahab UddinPrepared by:Jashim UddinID: 2021010004050Batch: 38Department of MBA ProgramSoutheast UniversityDate of Submission: 17-06-2021
Answer to the question no. 1Marketing Information System:The MarketingInformationSystem referstothesystematiccollection,analysis,interpretation, storage and dissemination of the market information, from both the internaland external sources, to the marketers on a regular, continuous basis.The marketing information system distributes the relevant information to the marketers whocan make the efficient decisions related to the marketing operations viz. pricing, packaging,new product development, distribution, media, promotion, etc.Effective marketing starts with a strong knowledge of your customers: the kind of knowledgethat gives you unique insights into what they want and how to satisfy them better than thecompetition. The most reliable source of fresh customer insights is good marketinginformation. Useful marketing information may come from a variety of sources both insideand outside your organization. Marketing information is generated by a variety of differentactivities, including marketing research.Marketing research is a systematic process for identifying marketing opportunities andsolving marketing problems, using customer insights that come out of collecting andanalyzing marketing information. The mechanics of marketing research must be controlled sothat marketers uncover the relevant facts to answer the problem at hand. Control over thisfact-finding process is the responsibility of the marketing research director, who mustcorrectly design the research and carefully supervise its execution, to ensure it yields thecustomer insights the organization needs.A marketing information system is a combination of people, technologies, and processes formanaging marketing information, overseeing market research activities, and using customerinsights to guide marketing decisions and broader management and strategy decisions.
Answer to the question no. 2Trends Shaping the Business LandscapeTrends are simply a direction in which things are fast moving or developing. It can begrowing trend of torn jeans, TikTok, stock market anything. A momentum towards aparticular direction becomes a trend. Various trends effect the business landscape and howthey function. Most of the trends are external to the firm. Meaning the company has nocontrol, in many cases, what trend would develop and how. At most, the trends can beresearched. These factors affect the company and their operating conditions. If the companiesfail to catch on with the trend, they will perish.

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Term
Spring
Professor
NoProfessor
Tags
Marketing, Online Research Panels

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