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Unformatted text preview: Marketing: An Introduction Chapter 4: Managing Marketing Information Road Map: Previewing the Concepts • Good products and marketing programs begin with solid info on consumer needs and wants, companies also need tons of info on competitors, resellers, and other forces in the marketplace • Marketing information system (MIS)- people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers o First interacts with info users to assess info needs o Then develops needed info from internal company databases, marketing intelligence activities and marketing research o Then helps users to analyze info and put it in right form for making marketing decisions o Finally it distributes the marketing info and helps managers use it in their decision making Assessing Marketing Information Needs • A good marketing information system balances the info users would like to have against what they really need and what’s feasible to offer • Company must decide whether benefits of having additional info are worth costs of providing it Developing Marketing Information Internal Data • Internal databases- electronic collections of consumer and market information obtained from data sources within the company network • Internal databases usually accessed more quickly and cheaply then other info sources o Info may be incomplete/in the wrong form for making marketing decisions (since it was collected for other reasons) Marketing Intelligence • Marketing intelligence- the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment o Goal of marketing intelligence: improve strategic decision making, assess and track competitors actions and provide early warning of opportunities and threats o Good intelligence can come from: people inside the company, suppliers, resellers, key customers, and observing competitors and monitoring their published info o Many companies now taking steps to protect own info Marketing Research • Marketing research- the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization • Marketing research can help marketers understand customer satisfaction and purchase behavior...
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This note was uploaded on 04/10/2008 for the course MKTG 290 taught by Professor Zeno during the Spring '08 term at Ramapo.
- Spring '08