Marketing information system and market research

3. Components of MIS
Marketing
Management
Decisions
Product
Price
Place
Promotion
Packaging
Marketing
Information
System(MIS)
Internal records
Marketing
intelligence
Marketing research
Analysis of
information
Marketing
Environment
Target markets
Competitors
Channels
Macro environment

6. Objectives of Marketing
Research
To know the demographic and psychographic needs of customers.
To find the impact of promotional efforts.
To know consumer response to new products.
To forecast sales
To anticipate competitive moves
To investigate what went wrong.

7. Benefits of Marketing
Research
Forcasting
Accessing product acceptance
Rightful promotion
Understanding new markets
Suitability of channels
Overall business directions

8. Disadvantages of Market
Research
Huge expenditure
Bias in collecting data
Unpredictable human behavior
Requires intelligent handling
No time gap allowed between
research and its implementation

9. Marketing Research
Process
Problem discovery
Determinations of
dimensions of
marketing research
Selection of
research method
Selection of sample
design
Data collectionData processing
Data analysis
Interpretation of
findings
Marketing research
report