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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?
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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.
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