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Chapter 2. marketing research & marketing information system

tybcom mhrm

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Chapter 2. marketing research & marketing information system

  1. 1. MARKETING RESEARCH &MARKETING INFORMATION SYSTEM Marketing research is a systematic method of collecting, recording & analysing of data. It is used to solve marketing problems. It finds out d needs & expectations of d consumers. So d co. makes it products according to the needs & expectation of the consumers. It helps co. to make it production & marketing policies
  2. 2. NATURE / CHARACTERISTICS• Marketing research has a wide scope• Systematic, scientific and objective• Continuous and dynamic process• Tool for decision making• Benefits to the co. and consumers• Similar to military intelligence• Applied research• Closely connected with marketing information system (MIS)• Reduces the gap between producers and consumers• Use different methods• Limitations• Importance to accurate data collection & critical analysis
  3. 3. MARKETING INFORMATION SYSTEM• Unified and centralized• Facilitates decision making• Provide quick and accurate information• Economical• Selective• Future oriented• Supply information regularly• New techniques• Basic obj• Used by all levels• information
  4. 4. IMPORTANCE of marketing research and MIS IN MARKETING DECISIONS• Consumer needs and • Helps to take advantage wants of business opportunities• Competitors products • Marketing intelligence• Effectiveness of channels • Co. to recognize change Of distribution • Quick supply of• Studies the sales information promotion techniques • Quality of decision• Packaging design making• Forecasting design • Facilitates marketing• Pricing decisions planning and control • Recognise trends • Integration of information
  5. 5. Market opportunity anlysis• Systematic examination • Potential demand & evaluation of the • Developing new companies external products environment • Fixing the price• Study the companies • Customer delight external environment • Keep legal limits• Find out d customers unsatisfied needs and • Competitors strategies wants • Channel of distribution • Promotion tools