MGMA01H3 Chapter 5: Ch. 5 Notes
Document Summary
In order to understand the needs of consumers and to develop a competitive advantage, mar- keters need meaningful research. Marketing information systems (mis) help to assess in- formational needs, develop the needed information and help decision makers analyse. How- ever, not all data that is available from mis is relevant and not all information is accessible by mis. Marketers can obtain the needed information through 1) internal data 2) marketing intelli- gence and 3) marketing research. Internal data: data obtain from internal company sources: however, some of the available information may not be suitable for marketing and the program is expensive to maintain. Marketing intelligence: systematic collection and analysis of publicly available data: this allows marketers to gain understanding about how consumers talk and think about products. In addition, the company can learn more about the competitors objectives and strategies (such as through annual reports, parking lots, websites)