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Marketing Information System
This is a type of management information system that is designed for supporting the process of marketing decision making. This is a system which is planed and entails the collection, processing, storage and dissemination of data in information form required in carrying out management functions.it is also termed as a system made up of people, equipment and procedure which are used in gathering, sorting, analyzing, evaluating and distribution of data to managers according to the required informational needs regularly. There are four main components of marketing information system these are internal records which gives reliable inside information of an organization; marketing intelligence that gives information collected from external sources; marketing research for solving marketing problems in an organization and marketing decision support system comprise of tools that assist managers in data analysis hence better decision making. The marketing decision support system enables marketers to get the information they require through using computer and hardware programs. The software programs enable them to fix prices, carry out market segmentation and handle their advertising budgets.
Marketing research process
A marketing research process needs an outlined, methodical acquiring of market data which will assist in decision making for both the business and management. There are various steps that are required in a marketing research process. First thing there should be the clear stating of research objectives. Any research study that will be fruitful starts with a clear definition of objectives. The next step involves the sources of data.in marketing research there are two types of data sources; primary and secondary .secondary data sources are also termed as published data and they are got from sources which are independent and credible. Therefore, secondary data sources ought to be the first line of data collection in the marketing research process since they are not expensive and available widely. The third stage is the instrumentation used in collecting data. For a marketing research process that will be collecting primary data, there should be the formulation of an instrument to collect data. Most of the instruments used are questionnaires and observational studies. The...
Quality when it comes to sample size is considered more important compared to quantity. The aim of sampling is to get answers which will act as a representation of the whole population. Sampling methods which cane be used are primary sampling methods like random sampling and stratified sampling. The final step is analyzing the data and writing the final report of the marketing research. Definition of the research problem helps the owners of a business not to study problems that do not exist or not correct (Price, 2010).
Advantages and disadvantages of interviews
face-to-face interviews are advantageous since there are social cues involved such as intonation, voice and body language. This will make the interviewer gather some additional information from these social cues. A disadvantage of face-to-face interview is the fact that they are mostly tape recorded and hence most interviewers do not take notes. This is a disadvantage because notes are essential incase there was a malfunction during the recording process.
The advantage of telephone interview is that it has an extended access when it comes to those who participate. This includes a wide geographical aces and populations that are hard to reach. A disadvantage of telephone interviews is that there is a reduction of social cues since the interviewer and interviewees do not see each other.
The advantage of online interviews is that a lot of time and costs are saved when interviews are conducted online. A disadvantage of online interviews is that interviewer is not able to see the situation where the interviewee is hence there can be no creation of a good interview ambiance.
Mail questionaries' are advantageous since they save time and money when it comes to collecting information through questionnaires. The disadvantage of mail questionnaires is the fact that many people tend to avoid them hence very few replies come back (Opdenakker, 2006).
Probability and non-probability samples
Probability samples are selected mainly based on chance. The minds of humans have absolutely no control when it comes to either selecting or not selecting of the sample units. On the other hand non-probability samples are not selected based on…
References
Johnson, R. (2011).The 8 different pricing objectives. Retrieved June 26, 2013 from http://vwmarketingsolutions.ca/2012/07/the-8-different-pricing-objectives/
Opdenakker, R. (2006). Forum; Qualitative social research. Advantages and Disadvantages of Four Interview Techniques in Qualitative Research. Volume 7, No. 4, Art. 11. Retrieved June 26, 2013 from http://www.qualitative-research.net/index.php/fqs/article/view/175/391
Price, R. (2010). The Basic Steps of the Marketing Research Process. Retrieved June 26, 2013 from http://smallbusiness.chron.com/basic-steps-marketing-research-process-30942.html
Marketing Information system is a management information system that supports decision making processes in marketing (Kotler & Keller, 2006). Marketing data is gathered, stored, and analyzed within this system and distributed on timely basis to managers to enhance decision making processes (Kotler, 1988). It is a continuing and an interactive structure of people, equipment and procedures to gather information that is used in decision making processes in an organization. The
109). But the new types of data kept by corporations are highly individualized, and contain information beyond the surface demographic to which the consumer belongs: the information is so personal it can be easily used to commit credit card or insurance fraud, and besmirch a customer's name. While increased access to such data might be a boon to sellers it is hardly likely to be as beneficial for consumers. Sellers might
By aligning the many sources of marketing information from internal records, competitive intelligence databases and systems, in addition to integration of the Marketing Information System to the Customer Relationship Management (CRM) system, marketers and senior managers will be able to quickly get the information they need to complete the planning and execution of strategies. Real-time integration between the Marketing Information System and the Market Research Systems(s) in place throughout DirecTV
Role of Information Systems in Marketing The objective of this study is to examine the role of information systems in marketing in terms of the information that is necessary for decision making. Additionally this work will examine the role of IS for this function within the organization and the benefits of IS for the functional users at the operational level, the use of data at all levels of the organization and
For startup companies, the key business functions include: Sales and Marketing, HR, Finance and Accounting, and Manufacturing. Present-day startups require information systems for monitoring all their business operations, such as business planning, material acquisition, production, quality control and delivery to markets. In view of the aforementioned key business roles of startup companies, the chief information systems required are; Marketing and Sales Information Systems, Production and Manufacturing Information Systems, Accounting and
Information Systems Define an Information System and Types of Information Systems An information system comprises the hardware and software components necessary to create, store, manage, share, and maintain data. The type of information system selected depends on the specific needs of the user or the organization. There are three basic types of information systems: transaction information systems, management information systems, and decision support systems ("Types of Information Systems," n.d.). Decision support systems are