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...
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