Marketing Information System Assignment

Marketing Information System Assignment Words: 538

Marketing Information System Management devoted most of its attention to managing money, materials, machines, and men. Less attention to the fifth critical resource of the firm: information. How can management learn about: Changing customer wants New competitor initiatives New modes of distribution, and so on? The answer is clear: Management must develop and maintain a marketing information system and have the skills of carrying out sound marketing research. Marketing Information Some firms have developed marketing information systems that provide management with rapid and incredible detail about buyer wants, preferences, and behavior.

For example, the Coca-Cola Company knows that we put 3. 2 ice cubes in a glass, see 69 of its commercials every year, and prefer cans to pop out of vending machines at a temperature of 35 degrees. Kimberly-Clark, which makes Kleenex, has calculated that the average person blows his or her nose 256 times a year. Marketing Information System “A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. ” Marketing Information System What are the components of a modern marketing information ystem? What are useful internal records? What is involved in a marketing intelligence system? The Components of a Modern Marketing Information System Internal record System Marketing Intelligence System Marketing Research System Marketing Decision Support System Internal Records Order-to-Payment Cycle Sales Information System Databases, Warehousing, Data mining Marketing Intelligence System The Marketing Intelligence System “A Marketing Intelligence System is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment. ” Steps to Improve Marketing Intelligence

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Train and motivate sales force Motivate channel members to share intelligence Network externally Utilize customer advisory panel Utilize government data resources Purchase information Collect customer feedback online Fads A fad is “unpredictable, short-lived, and without social, economic, and political significance. ” Eg:Tattoing and Body Piercing Trend A trend is a direction or sequence of events that has some momentum and durability. Trends are more predictable and durable than fads. A trend reveals the shape of the future and provides many opportunities. Eg: Organic Foods, Wheat Grass, Aloe Vera Megatrend

Megatrends have been described as “large social, economic, political and technological changes [that] are slow to form, and once in place, they influence us for some time- between seven and ten years, or longer. ” Eg: Youngsters owning a laptop,Wearing Denims,Influencing family purchase decisions Trends and megatrends merit close attention. A new product or marketing program is likely to be more successful if it is in line with strong trends rather than opposed to them, but detecting a new market opportunity does not guarantee success, even if it is technically feasible Identifying the Major Forces. Companies and their suppliers, marketing intermediaries, customers, competitors, and publics all operate in a macro environment of forces and trends that shape opportunities and pose threats. ??? These forces represent “non controllables,” which the company must monitor and to which it must respond. ??? In the economic arena, companies and consumers are increasingly affected by global forces. Environmental Forces Demographic Economic Socio-Cultural Natural Technological Political-Legal Population and Demographics Size Growth rate Age distribution Ethnic mix Educational levels Household patterns Regional characteristics Movement

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Marketing Information System Assignment. (2020, May 15). Retrieved May 29, 2020, from https://anyassignment.com/art/marketing-information-system-assignment-30430/