Gathering Information and Measuring Market Demand

Gathering Information and Measuring Market Demand - The...

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Gathering Information and Measuring Market Demand In this dynamic market with the free flow of information and innovative marketing programs, needs and wants of consumers are always changing. As per capita income increases consumers are willing to explore more alternatives for purchase decision. Companies should be aware of changing situation all the time to take the right decision. This calls for development of sophisticated marketing information systems. The information system consists of stakeholders, process and equipment to collect, analyze and proliferate information across relevant decision makers . The system is formulated using the internal company records, market research data and other intelligence gathering system.
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Unformatted text preview: The internal system consists of analyzing information from product order to the delivery cycle and sales information systems. In product order to the delivery system, companies analyze consumption of various brands and make sure inventory of raw materials as well as finished products are maintained at sufficient levels. This is to make sure that whole cycle is completed in the shortest time possible. In the sales information systems, sales figure across different geographical centers are collected and analyzed to understand the consumption pattern. The data collected from the above process is analyzed to understand consumer behavior and develop products as well as programs to cater to consumer demand....
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This note was uploaded on 11/26/2011 for the course MARKETING mg 103 taught by Professor - during the Fall '09 term at Montgomery.

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Gathering Information and Measuring Market Demand - The...

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