Chapter 7

Chapter 7 - • Chapter 7 o Marketing research : procedures...

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Unformatted text preview: • Chapter 7 o Marketing research : procedures that develop and analyze new information about a market • May involve use of questionnaires, interviews, experiments, and many other approaches o Marketing information system (MIS) : an organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions • Makes info available and accessible Continual flow of information • Advances in technology have allowed for radical improvements in MIS Type of information is also changing • Intranet: a system for linking computers within a company Info is available on demand • In some companies, MIS is set up by a person or group that provides ass departments in the firm with IT support • An MIS system organizes incoming info into a data warehouse: a place where databases are stored so that they are available when needed Like an electronic library • Decision support system (DDS) : a computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions Usually involves some sort of search engine: a computer program that helps a marketing manager find information that is needed Helps change raw data into something useful Some DDS allow a manager to see how answers to questions might change in various situations Marketing model: statement of relationships among marketing variables In short, DDS puts managers online so they can study available data and make better marketing decisions, faster • Often use MIS to conduct a sales analysis : a detailed breakdown of a company's sales records • Once marketing managers use MIS and perhaps DDS, they are eager for more info They realize they can improve all aspects of their planning, blending individual Ps, combining the 4 Ps into mixes, and developing and selecting plans • They can also monitor the implementation of current plans and compare results and make necessary changes more quickly • Marketing dashboard : displays up to the minute marketing data in an easy to reads format With early warning about potential problems, managers can quickly make corrections • A major problem is that many companies are not there yet Still doing things the old way and don’t think through what information they need • An MIS can provide information, but only the marketing manager can know what problem needs solving Job of manager to ask for the right info in the right form o Most large companies have separate marketing research departments to plan and manage research projects • Usually rely on outside spets o Small companies usually depend on salespeople or managers to conduct what...
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This note was uploaded on 03/05/2012 for the course BUSI 406 taught by Professor Perreault during the Fall '11 term at UNC.

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Chapter 7 - • Chapter 7 o Marketing research : procedures...

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