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BUS 343 (122)
Chapter 3

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Department
Business Administration
Course
BUS 343
Professor
Zaheer Jiwani
Semester
Winter

Description
Chapter 3 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.****  2.Marketing intelligence Marketing intelligence system: A method by which marketers get information about everyday happenings in the marketing environment.  3.Marketing research Marketing research: The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness. 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 managers need. ****This kind of research is especially helpful for firms when they need to know more about why certain trended have surfaced. ****  4.Acquired databases ****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 company intranet.**** 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 Research Secondary data: Data that have been collected for some purpose other than the problem at hand.  Primary Research Primary data: Data from research conducted to help make a specific decision.  Explorato
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