Textbook Notes (381,336)
CA (168,503)
UTSC (19,326)
MGM (268)
MGMA01H3 (184)
Aggrawal (13)
Chapter 5

Ch. 5 Notes

2 Pages
134 Views

Department
Management (MGM)
Course Code
MGMA01H3
Professor
Aggrawal

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Marketing Information and Consumer Insight
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)
Marketing Research: Systematic collection, analysis and reporting of data relevant to a spe-
cific marketing situation.
1. Define the Problem and Research Objective
Define the reason for the research and decide what type of search will be conducted
Exploratory research help to define the problem, descriptive research helps to better
describe the market and consumers, casual research tests cause-and-effect relation-
ships
2. Developing the Research Plan
Determine the exact information needed and the methods of collection
3. Gather Secondary Data
April 24, 2011 4:28 PM
W6.Ch5
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Description
April 24, 2011 4:28 PM W6.Ch5 MarketingInformationandConsumerInsight 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 da
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