paradaa.blogg.se - Principles of marketing chapter 8 quizlet

A system for recording internally generated data and reports.

Ideally, however, a marketing information system should include the following components: Marketing information systems range from paper-based systems to very sophisticated computer systems. For example, one group in a marketing department might research a problem related to a brand, uncover certain findings that would be useful to other brand managers, but never communicate them.Ī marketing information system (MIS) is a way to manage the vast amount of information firms have on hand-information marketing professionals and managers need to make good decisions. Even within departments, it can be a problem. Unfortunately, in many organizations, information isn’t shared very well among departments.

The trick is integrating all the information you collect so it can be used by as many people as possible in your organization to make good decisions. You will learn that the company isn’t just interested in what consumers want now but also years in the future.

Listen to this clip to hear Mead talk about the research techniques and methods Procter & Gamble uses to develop consumer insight. Recall from Chapter 3 “Consumer Behavior: How People Make Buying Decisions” that Joy Mead is an associate director of marketing with Procter & Gamble. However, truly understanding customers involves not just collecting quantitative data (numbers) related to them but qualitative data, such as comments about what they think. All this data can be used to generate consumer insight. When a firm gets a customer complaint and records it, this too is information that should be put to use. When a sales representative records the shipping preferences of a customer in a firm’s customer relationship management (CRM) system, this is also marketing information that’s being collected. When a sale is made and recorded, this is marketing information that’s being gathered.

Explain when marketing research should and should not be used.Ī certain amount of marketing information is being gathered all the time by companies as they engage in their daily operations.

Describe the limitations of market intelligence and its ethical boundaries.

Explain the situations in which marketing research should be used versus market intelligence.

Describe the components of a marketing information system and each component’s purpose.