Knowledge is power
Marketing research ethics: Taking an ethical and above-board approach to conducting marketing
research that does no harm to the participant in the process of conducting the research.
The marketing information system
Marketing information system (MIS): A process that first determines what information
marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant
and timely marketing information to system users.
****The MIS includes three important components:
1. Four types of data (internal company data, marketing intelligence, marketing
research, and acquired database)
2. Computer hardware and software to analyze the data and to create reports
3. Output for marketing decision makers****
1.Internal company data
Intranet: An internal corporate communication network that uses Internet technology
to link company departments, employees, and databases.
****Intranets are secured so that only authorized employees have access.****
Marketing intelligence system: A method by which marketers get information about
everyday happenings in the marketing environment.
Marketing research: The process of collecting, analyzing, and interpreting data about
customers, competitors, and the business environment in order to improve marketing
Syndicated research: Research by firms that collect data on a regular basis and sell the
reports to multiple firms.
Custom research: Research conducted for a single firm to provide specific information its
****This kind of research is especially helpful for firms when they need to know more about
why certain trended have surfaced. ****
****a large amount of information that can be useful in marketing decision making is available
in the form of external databases. ****
The marketing decision support system
Marketing decision support system (MDSS): The data, analysis software, and interactive
software that allow managers to conduct analyses and find the information they need.
****Many firms beef up their MIS with a marketing decision support system (MDSS). An MDSS
includes analysis and interactive software that allows marketing managers, even those who are
not computer experts, to access MIS data and conduct their own analyses, often over the
Data mining: Sophisticated analysis techniques to take advantage of the massive amount of
transaction information now available.
****These operations are so complex that often companies need to build a data warehouse
simply to store and process the data.****
Steps in the marketing research process
Step1: Define the research problem
Step2:Determine the research design
Research design: A plan that specifies what information marketers will collect and what type of
study they will do.
Secondary data: Data that have been collected for some purpose other than the problem at
Primary data: Data from research conducted to help make a specific decision. Explorato