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MARKETING RESEARCH & MARKETING INFORMATION
SYSTEM
Marketing research is a systematic method of collecting, recording & analysing of data. It is used to
solve marketing problems.It finds out d needs & expectations of d consumers. So
d co. makes it products according to the needs & expectation of the consumers. It helps co. to make it
production & marketing policies
NATURE / CHARACTERISTICS
• Marketing research has a wide scope• Systematic, scientific and objective• Continuous and dynamic process• Tool for decision making• Benefits to the co. and consumers• Similar to military intelligence• Applied research• Closely connected with marketing information system (MIS)• Reduces the gap between producers and consumers• Use different methods• Limitations• Importance to accurate data collection & critical analysis
MARKETING INFORMATION SYSTEM
• Unified and centralized• Facilitates decision making• Provide quick and accurate information• Economical• Selective• Future oriented• Supply information regularly• New techniques• Basic obj• Used by all levels• information
IMPORTANCE of marketing research and MIS IN MARKETING DECISIONS
• Consumer needs and wants
• Competitors products• Effectiveness of
channels Of distribution• Studies the sales
promotion techniques• Packaging design• Forecasting design• Pricing decisions
• Helps to take advantage of business opportunities
• Marketing intelligence• Co. to recognize change• Quick supply of information• Quality of decision making• Facilitates marketing
planning and control• Recognise trends• Integration of information
Market opportunity anlysis
• Systematic examination & evaluation of the companies external environment
• Study the companies external environment
• Find out d customers unsatisfied needs and wants
• Potential demand• Developing new
products• Fixing the price• Customer delight• Keep legal limits• Competitors strategies• Channel of distribution• Promotion tools
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