Marketing Research and Markeing Information System(Mis)
Market Research
Many definitions of Marketing Research: * Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.
By Philip Kotler * “The systematic gathering, recording and analyzing of all data about problems relating to the marketing of goods and services.” [The American Marketing Association]
Basic Purpose of Marketing Research * Marketing research reduces uncertainty or error in decision-making. The information collected by conducting marketing research is used for problem solving and decision making in various areas of marketing Marketing research
Can help the marketing manager to: * Identify and define marketing problems and opportunities accurately; * (2) Understand markets and customers and offer reliable prediction about them; * (3) Develop marketing strategies and actions to provide a competitive edge; and refine and evaluate them; * (4) Facilitate efficient expenditure of funds
Its also important because of * Rapid changing marketing environment; * Need for up-to-date information for strategically important areas; * Importance of research as an integral part of better operation
MIS: Marketing Information System 1) A Marketing Information System is basically a way of regularly gathering and giving helpful marketing information to the right people at the right time. 2) The key element is knowing what kind of information is needed by whom and when. Information needs, information sources and information costs change over time and so a review, or information audit, is worth doing every few years. 3) An information audit specifies who needs what and when. The audit can also list where the information can be found - the gold mine of information sources. 4) There are many different types of information which a marketing manager uses, and many ways of building a marketing information
Many definitions of Marketing Research: * Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.
By Philip Kotler * “The systematic gathering, recording and analyzing of all data about problems relating to the marketing of goods and services.” [The American Marketing Association]
Basic Purpose of Marketing Research * Marketing research reduces uncertainty or error in decision-making. The information collected by conducting marketing research is used for problem solving and decision making in various areas of marketing Marketing research
Can help the marketing manager to: * Identify and define marketing problems and opportunities accurately; * (2) Understand markets and customers and offer reliable prediction about them; * (3) Develop marketing strategies and actions to provide a competitive edge; and refine and evaluate them; * (4) Facilitate efficient expenditure of funds
Its also important because of * Rapid changing marketing environment; * Need for up-to-date information for strategically important areas; * Importance of research as an integral part of better operation
MIS: Marketing Information System 1) A Marketing Information System is basically a way of regularly gathering and giving helpful marketing information to the right people at the right time. 2) The key element is knowing what kind of information is needed by whom and when. Information needs, information sources and information costs change over time and so a review, or information audit, is worth doing every few years. 3) An information audit specifies who needs what and when. The audit can also list where the information can be found - the gold mine of information sources. 4) There are many different types of information which a marketing manager uses, and many ways of building a marketing information