Management and Organizational Studies 3370A/B Lecture Notes - Lecture 17: Market Information Systems
9 Dec 2015
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Document Summary
Information can be an important competitive advantage for firms. Challenge is to differentiate information in terms of reliability, accuracy and relevance. Digital technology and the internet allow for unprecedented information capture. Quality makes it more difficult to identify what is important. Procedures and processes for gathering sorting and analyzing data on an ongoing basis. Can come from both internal and external sources. Answer specific questions that were not answered by the marketing information. A tool that clarifies marketing problems and opportunities and provides information for marketing decision making. Is difficult to obtain valid and accurate information. Questions are planned and scripted to try and deal with these difficulties to get the required insights. Preliminary research that clarifies the scope and nature of a marketing issue. Subsequent more detailed research is typically necessary afterwards. Research used to describe the characteristics of a population or to clarify the usage and attitudes. Already have the general data from exploratory, seeking more conclusive data.
