Kotcha05 - Chapter5 ManagingMarketingInformation 1...

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1 Chapter 5 Managing Marketing Information
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2 The Importance of Information        (pp. 142-143) Companies need  information about: The marketing environment The competition Customer needs, wants,  behavior Source of competitive  advantage Managers don’t need more   information (more “data  smog,”) – they need better   information
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3 What is a Marketing Information System (MIS)?                             (pp. 131-132) MIS consists of people, equipment, and  procedures to gather, sort, analyze, evaluate  and distribute needed , timely , and accurate   information to marketing decision makers The MIS helps the company:   Assess Assess information needs Develop Develop needed information Distribute Distribute information to decision makers
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4 The Marketing Information  System                   (Fig. 5.1, pp. 143-144)
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5 Internal Data Data sources within the company (e.g.,  accounting records, customer databases,  operations reports, sales reports) Marketing Research Design, collection, analysis, and reporting of  data relevant to a specific marketing  situation facing an organization Marketing Intelligence Systematic collection and analysis of  publicly available information about  competitors and developments in the  marketing environment (e.g., technology) Functions of a MIS: Developing  Information                   (pp. 144-148) Information Needed by Managers Can  be Developed From:
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6 Marketing Intelligence                                       (pp. 145-147) Competitive intelligence – monitoring competitors Competitive intelligence – monitoring competitors Gathering information Gathering information Track advertising, pricing, etc. News coverage, classified ads, company info (e.g., web sites,  annual reports, press releases, trade shows) Public/government records Benchmarking products Buying information Buying information Syndicated data (AC Nielsen, IRI, JD Power) Services (e.g., Company Sleuth, Adtrack) Industry reports (e.g., Find/SVP) Soliciting information Soliciting information Customers, suppliers, wholesalers, retailers     Ethics – unethical to use deception Ethics – unethical to use deception
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Kotcha05 - Chapter5 ManagingMarketingInformation 1...

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