MARK20100 Chapter Notes - Chapter 3: Online Database, Marketing Intelligence, Habitat
Document Summary
Companies need information systems that can collect and analyze huge amounts of information and keep it for right time and circumstance. Also need a system to design and execute research. 2 fundamental types of market information decision makers need: data related to broad areas of interest (i. e. demographic/economic trends) Used in strategic planning to forecast potential opportunities/deal with possible problems: info that addresses a specific question (i. e. about what features people are looking for in new iphone) Market information system (mis) not a software package but a continuing process of identifying, collecting, analyzing, accumulating, and dispensing critical information to marketing decision makers: (cid:498)information bank(cid:499, three factors when creating mis: Managers should be able to customize the info they receive. Internal sources of info: collecting info inside the company, 5 common internal sources: Identify frequency and size of orders, determine actual cost of order (time and overhead costs), rank customers based on profitability, calculate efficiency of company"s production and distribution system.
