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Marketing_Management_kotler04_basic

Marketing_Management_kotler04_basic - ManagingMarketing...

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Managing Marketing Information Chapter 4
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4 - 2 Learning Goals 1. Explain the importance of information to  the company 2. Define the marketing information system 3. Outline the steps in the market research  process 4. Explain how companies analyze and  distribute information 5. Discuss special issues facing market  researchers
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4 - 3 Case Study New Coke New Coke  Product Failure Poor sales Over 1,500 phone calls a  day from angry  customers Old Coke returns in only  3 months Was due largely to  Research Failure Tested on taste only – not  intangibles Decisions based on 60%  ratings All for $4 million!
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4 - 4 Marketing Info. System Marketing Information System (MIS) Consists of people, equipment, and  procedures to gather, sort, analyze,  evaluate, and distribute needed, timely,  and accurate information to marketing  decision makers. Goal 2:  Define the Marketing Information System
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4 - 5 Marketing Info. System Begins and Ends with Information Users: Interacts with information users to assess  information Develops needed information from internal  and external sources Helps users analyze information for  marketing decisions Distributes the marketing information and  helps managers use it for decision making Goal 2:  Define the Marketing Information System
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4 - 6 Assessing Marketing  Information Needs The MIS serves company managers as  well as external partners The MIS must balance needs against  feasibility:  Not all information can be obtained.  Obtaining, processing, sorting, and  delivering information is costly Goal 2:  Define the Marketing Information System
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4 - 7 Developing Marketing  Information Internal data is gathered via  customer databases, financial  records, and operations  reports. Advantages include quick/easy  access to information. Disadvantages stem from the  incompleteness or  inappropriateness of data to a  particular situation.
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