Chapter 4 Notes

Chapter 4 Notes - Chapter 4 Notes/Terms Marketing...

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Chapter 4 Notes/Terms Marketing information system (MIS): people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Internal databases: electronic collections of information obtained from data sources within the company. Marketing intelligence: the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment. Marketing research: the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Four steps- defining the problem and research objectives, developing the research plan, implementing the research plan, and interpreting and reporting the findings. Exploratory research: marketing research to gather preliminary information that will help define problems and suggest hypotheses.
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