Marketing Information System

1. Discuss the concept of a marketing information system and why it is important for marketing managers to be involved in planning the system. A marketing information system is a management information system designed to support marketing decision making. Trend in the marketing environment are picked up and analyzed through four subsystems making up the marketing information systems the internal accounting systems, marketing intelligence system, marketing research systems, and analytical systems. The information flows to marketing managers to help

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

* A marketing information system is a management information system designed to support marketing decision making. A system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Market research consists of information collection regarding the prevalent market situation, and its analysis. “We define marketing research as the systematic design, collection, analysis, and

What is Market Research? When you collect and identify data (qualitative data and quantiative) about customers, the market and competitors.

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

2) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Market research is the method of gathering and analyzing information about customers, competitors and the market. Market research is used when companies want to focus on things like market trends, customer habits and lifestyle, what price customers will pay for a product and what competition exists. This type of research assists companies build an idea on how competitive the market is also business owners can price their products efficiently with the understanding of the current market research.

4) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Marketing research is best defined as, “a way of investigating and answering questions about human behavior,” (Bont, Et. Al, 2007). Essentially, marketing research is a tool that helps businesses stay ahead of the trends and maintain a competitive edge in the constantly changing global market. Companies that make marketing research a central part of their business plan will see the business grow and develop to not just achieve their business goals, but exceed them. Robert Duboff puts it into perspective in a way that anyone can understand in terms of why marketing research is a valuable tool, “Marketing

In simple words, market research is the process of collecting, recording and evaluating data which relates to various products and services.

Market research It is the process of collecting and analyzing by interpreting information about the product or service that Kfc company want to sell in the market. Kfc Company will fail without market research, Kfc Company

The Costco Wholesale Corporation is one of the leading wholesalers in the world; it operates a chain of membership warehouses globally. The company offers products quality, brand name merchandise at lower prices than are normally found at conventional wholesale or retail sources. The warehouses are designed for small businesses and individual uses.

Alternatively it can be defined in a far broader sense as 'People, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers' (Gray Armstrong, 2008)