Marketing Essay

860 WordsApr 15, 20144 Pages
Lecturer: Am Institute of Karachi Source: principles of Marketing; Kotler and Armstrong Why do we need information?  Good products and marketing programs begin with good customer information  Also, information on competitors, resellers and other actors and marketplace forces. The Importance of Information Marketing Environment Customer Needs Why Information Is Needed Strategic Planning Competition Ipod- How to make use of customer insights?  Key consumer insight:  People want to consume digital music  They want to take all their music with them  They want their personal music players to be unobtrusive  Result: Two key design goals  Make it as small as a deck of cards  Build it to hold up to 1000 songs  Add a dash of Apple’s design and usability magic  75% market share Marketing Information System  People and procedures for assessing information needs,  developing the needed information, and  helping decision makers to analyze and use the information  to generate and validate actionable customer and market insights ‘In today’s hypercompetitive world, the race for competitive advantage is really a race for customer and market insights’ Marketing Information System (MIS) Marketing Managers and Other Information Users Obtaining customer and marketing insights from marketing information Marketing Information System Assessing Information Needs Developing Needed Information Analyzing and Using Information Marketing Environment Target Market Marketing Channels Competitors Publics Macroenvironment Forces Assessing Information Needs  MIS primarily serves the company’s marketing and other managers  Provides information to external partners Developing Needed Information  Internal Databases  Marketing Intelligence  Marketing Research Functions of a MIS: Assessing Information Needs

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