MRKTNG NOTES (CHPTR 6-10).docx - CHPTR 6 – MARKETING INFORMATION DECISION SYSTEMS AND MARKETING RESEARCH PG 82 1 Explain the concept and purpose of

MRKTNG NOTES (CHPTR 6-10).docx - CHPTR 6 – MARKETING...

This preview shows page 1 - 3 out of 22 pages.

CHPTR 6 – MARKETING INFORMATION, DECISION SYSTEMS AND MARKETING RESEARCH, PG 82 1 Explain the concept and purpose of market information systems, PG 83 "Accurate and timely information is the lifeblood of marketing." Marketing Intelligence: Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans. MIS: (MIS) is a set of procedures and methods for the regular, planned collection, analysis and presentation of information for use in marketing decisions’ American Marketing Association. Decision Support System (DSS): An interactive, flexible, computerised information system that enables managers to obtain and manipulate information as they are making decisions. Interactivity: managers can simply click buttons on their computers to access instantaneously the information they want in the form they want. Flexibility: a DSS allows the data to be arranged in many different formats and can be very detailed or summarized. It can be as simple or complex as the user requires, matching information to the problem at hand. For example, the CEO can see highly aggregated figures, and the marketing analyst can view very detailed breakdowns. Discovery orientation: managers can probe for trends, isolate problems and ask ‘what if’ questions. Accessibility: a DSS is easy to learn and use by managers who are not skilled with computers. Novice users should be able to choose a standard, or default, method of using the system. They can bypass optional features so they can work with the basic system right away awhile gradually learning to apply its advanced features. Database Marketing: The creation of a large computerised file of customers’ and potential customers’ profiles and purchase patterns. 2 Define marketing research and explain its importance to marketing decision making, PG 85 Marketing Research: The process of planning, collecting and analysing data relevant to a marketing decision. Market research has three roles: descriptive, diagnostic and predictive. Descriptive roles include gathering and presenting factual statements. For example, what is the historic sales trend in industry? What are consumers’ attitudes towards product and its advertising?
Image of page 1

Subscribe to view the full document.

Diagnostic roles include explaining data. For example, what was the impact on sales of a change in the design of the package? Predictive functions address ‘what if’ questions. For example, how can the researcher use the descriptive and diagnostic research to predict the results of a planned marketing decision? Market research can help managers in several ways: – It improves the quality of decision making. – It helps managers to trace problems. – It helps managers to focus on the importance of keeping customers.
Image of page 2
Image of page 3

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes