Marketing Information Sysems Essay

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Lecture 2 notes: Marketing Research and Information Systems: chapter 3: Marketing research: * The systematic design, collection, interpretation of data, as well as the reporting of information gained to help marketers solve specific marketing problems or take advantage of marketing opportunities Market researchDefinition: Collecting and studying information of customer needs and wants as well as changes in the business environment. * Marketing research Definition: The planned, systematic collection and analysis of information * aiming to help decision making * and monitor results of decisions made earlier * It can include information on * products * prices * distribution * customers * consumers * competitors etc. i.e. internal to the company * the Marketing mix (e.g. how effective?) External to the company * SLEEEPT + C * Identify/anticipate trends Why do marketing research? * Helps us make more effective decisions * Helps us evaluate the successfulness of * Each product * Advertising campaigns, etc. * More information of customer needs and wants, * Who buys what, when where and why * Competitors’ strengths and weaknesses The marketing research process (steps) 1. Determining the scope for marketing research 2. FEEDBACK FEEDBACK Selecting the research method 3. Collecting and preparing the data 4. Analysing the data 5. Transforming data into information Step 1: determining the scope for marketing research: * Define the problem; nature/scope of situation * Set research objectives * Clear definition of need; * Determine precisely what research is to uncover * Set boundaries of a situation or question * How will data be used? * In what format are results required?

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