Marketing ch. 4

third step in marketing research

implementing the marketing research plan by gathering, processing and analyzing the information

fourth step in marketing research

interpreting and reporting the findings

marketing intelligence activities

supply everyday info about developments in the external marketing environment

Steps of MIS

MIS first assesses information needs; it primarily serves the company's marketing and other managers but it may also provide info to external partners; then it develops information from internal databases, marketing intelligence activities and marketing research; internal databases provide information on the company's own operations and departments; then marketing intelligence and research

customer relationship management

acquired this to analyze individual customer data; integrate, analyze and apply the mountains of individual customer data contained in their databases

market research

consists of collecting info relevant to a specific marketing problem faced by the company

marketing information system

consists of people and procedures for assessing information needs, developing the needed information and helping decision makers use the information to generate and validate actionable customer and market insights; well-designed information system begins and ends with users

first step in the marketing research

defining the problem and setting the research objectives, which may be exploratory, descriptive or causal research

second step in marketing research

developing a research plan for collecting data from primary and secondary sources

ensure primary research

each primary data collection method - observational, survey and experimental - has its own advantages and disadvantages

why need to ensure secondary source

ensure that it is relevant, accurate, current and impartial