Marketing Research, Ch 5

Limitations of the Systems Approach

-difficult to implement -People resist change -Managers won't always share their decision making processes -differing data needs across managers -time and money costs -Managers are limited to the data that are in the system

What is the responsibility of the CIO?

Knowledge Management: responsible for planning, coordinating, and controlling the use of the firm's information resources and is much more concerned with the firm's outlook than with the daily activities of the department.

Define the difference between secondary data and primary data.

Secondary data are data that have already been collected, often for some other purpose or by some other organization. Primary data are data collected specifically for the investigation at hand.

List the advantages and disadvantages of working with secondary data.

The most significant advantages: time savings and money savings for the researcher. Two problems that commonly arise when secondary data are use dare (1) they do not completely fit the problem, and (2) they are not completely accurate

Marketing Information System (MIS)

a set of procedures and methods for the regular, planned collection, analysis, and presentation of information for use in making marketing decisions.

knowledge management

an effort to systematically collect organizational knowledge from employees and make it accessible to others

Data system

collects and stores data from internal and external sources. It creates the database.

Decision Support System (DSS)

combines data, models for guiding decisions, and a user interface that allows users to interact with the system to produce customized information.

model system

consists of routines that allow the user to manipulate data in order to analyze them as desired. It is the analytical component.

Dialog System

serves as the user interface permitting marketers to use the system models to produce reports based on criteria they specify themselves. It is the output component.

Components of a Decision Support System

the data system, model system, and dialog system.