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Marketing information system

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Marketing info. System

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Marketing information system

  1. 1. Marketing Information system and Research Presenters: Bandana Ghimire Raj Shrestha Kiran Kharel Uddipdhoj Thapa
  2. 2. Contents • Introduction • Features of Marketing Information System • Components of Marketing Information System
  3. 3. Introduction • Marketing Information System is a management information system designed to support marketing decision making • According to Jobber it is defined as a system in which marketing data is formally gathered, stored, analyzed and distributed to manager in accordance with their informational neeed in a regular basis.
  4. 4. • Furthermore, an overall marketing information system can be defined as a set structure of procedures and methods for the regular, planned collection, analysis and presentation of information for use in making marketing decision.
  5. 5. Features of Marketing Information System • Continuous flow • Decision Making • Use of Computer • Complex Process • Economical • Variety • Future Oriented • Flexible
  6. 6. • Marketing Information System consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute timely and accurate information to marketing decision makers. • The Marketing information system should be a mixture of what managers think they need, and what is economically feasible
  7. 7. Components of a modern MIS • Internal record system • Marketing intelligence system • Marketing research system
  8. 8. Internal Records • It is a system under which marketing information is stored, retrieved and helps to spot important opportunities and potential problems. • Keeps record of visits and calls, revenues and profits that a salesperson has generated on each of the products and the customers that have been assigned to him. • Internal records consists : – The order of payment cycle – Sales Information System – Databases, Data warehousing and Data Mining
  9. 9. The Order-to-Payment cycle • The heart of the internal records system and where Sales representatives, dealers and customers send order to firm. • Shipped items (orders) generate shipping and billing documents. • Customers favors timely delivery and firms needs to perform these activity by using Intranets and Extranets to improve the speed, accuracy, and efficiency of the order- to-payment cycle
  10. 10. Sales Information System• It makes compact and comprehensive information available, both to the management and the sales employees • It perform with laptop, computers and other devices and sales representatives can access information about prospects and customers and provide immediate feedback and sales reports. • Sales managers can monitor everything in their territories and get current sales which helps to forecast sales.
  11. 11. Databases, Data Warehousing and Data Mining • Companies organizes their information into customer, product and salesperson database and then combine their data. • The customer database will contain every customer’s personal details ( name, address, transaction et all.) • Company will rank its customer according to some factors (purchase regency) and send offer to only highest-scoring customers. • Companies make these data easily accessible to their decision makers • Analysts can ”mine” the data and gather fresh information about customer segments, recent trends etc.
  12. 12. Marketing Intelligence System • In Marketing Intelligence System the marketer gathers data from all the available sources and process these into meaningful information that can be used to make critical business decisions. • The internal records system provide “results” data, but the marketing intelligence provide “happening” data
  13. 13. Sources Of Marketing Intelligence • Marketing intelligence can be collected From: –Reading books, newspapers and publications; –Talking to customers, suppliers and distributers –Monitoring social media –Meeting with other company managers
  14. 14. Improvement Of Marketing Intelligence • Eight action to improve the quantity and quality of marketing intelligence are as follows: 1. Train and motivate the sales representatives 2. Motivate distributors, retailers, and other intermediaries to pass along important intelligence 3. Hire external experts to collect intelligence
  15. 15. Improvement Of Marketing Intelligence 4. Network internally and externally 5. Set up a customer advisory panel 6. Take advantage of government data resources 7. Purchase information from outside suppliers 8. Collecting marketing intelligence on the internet
  16. 16. Marketing Research System  Marketing Research: • Process that links the producers, customers and end users to the marketer through information to identify and define marketing opportunities and problems. • Generating, refining and evaluating marketing actions, monitor performance, improve understanding of marketing as process. • Identify and asses how changing elements of marketing mix impacts customer behavior. • The systematic and objective identification, collection, analysis and dissemination of information for the purpose of assisting management in decision making.
  17. 17. Benefits of Marketing Research It gives data that can be used to drive marketing strategy and accomplish objectives. It includes: • Communication driver • Identifies opportunities • Lowers risk
  18. 18. Category Marketing research falls into mainly three categories:  Syndicated-service research (Gather consumer and trade into which they sell for a fee.)  Custom marketing research (carry out specific projects; design the study and report the findings)  Specialty-line marketing research (provide specialized research services. Eg: field-service firm which sells field interviewing services to other firms)
  19. 19. Marketing Research in case of small business firm Small businesses can also hire the services of marketing research or conduct it in creative and affordable ways, such as: • Engaging students of professors to design and carry out projects • Using the internet • Checking out rivals • Tapping into marketing partner expertise
  20. 20. Market Research and Marketing Research Market Research: • When research is narrowed down to a “specific target”. Marketing Research: • It deals with broader range of consumers • It includes market research and also delves into new product research and distribution methods • It is about researching and marketing process of a company, not just who they are targeting
  21. 21. The Marketing Research Process Define the problem Develop the research plan Collect the informat ion Analyze the informat ion’ Present the findings Make the decision
  22. 22. • Define the problem The first step in the process is to define a problem or develop a research question. A very broad or vague definition leads to excessive wastage of resources. The research problem may be something the agency identifies as a problem, some knowledge or information that is needed by the agency, or the desire to identify a recreation trend nationally • Develop the research plan Now that the problem has been identified, the researcher must learn more about the topic under investigation. To do this, the marketing researcher requires developing the most efficient plan for gathering the required information. This involves decisions on data sources, research approaches, research instruments, sampling plan, and contact methods
  23. 23. • Collect the information The data collection phase of marketing research is generally the most expensive and the most prone to error. Marketers may conduct surveys in homes, over the phone, via Internet, or at a central interviewing location like a shopping mall. While collecting the information four major problems arise in surveys • Analyze the data or information In the marketing research process, the fourth step is to analyze the data or information. Data organization and data reduction are two very important aspects of data analysis. A market researcher may tabulate data or compile frequency distributions. Advanced statistics and decision models are used to maximize the information that can be extracted from research data
  24. 24. • Present the findings The researcher presents findings relevant to the major marketing decisions facing management. They are also considering way to present research findings in an understandable and compelling a fashion as possible • Make the decision Research findings only provide additional information and insight to managers. Depending on their confidence in the findings, managers decide to use it, discard it, or carry out more research.
  25. 25. Characteristics of Good Marketing Research • Scientific method • Research creativity • Multiple methods • Interdependence of • models and data • Value and cost of information • Healthy skepticism • 7. Ethical marketing
  26. 26. RESEARCH APPROACHES • Observational Research o Ethnographic research • Focus Group Research • Surveys Research • Behavioral Research • Experiments Research
  27. 27. Research instrument • Questionnaires • Qualitative Measures • Technological devices.
  28. 28. SAMPLING PLAN • Sampling unit • Sample size • Sampling procedure
  29. 29. CONTACT METHODS • The marketing researcher must decide how to contact the subjects: by mail, by telephone, in person or online.