Extensive Marketing Comoponents Flashcards
Extensive marketing components
The internal reporting Subsystem
Marketing Intelligence subsystem
The statistical subsystem
The marketing research subsystem
The internal reporting Subsystem
Internal reports containing historical performance results assist in identifying opportunities and threats
Internal databases are cheaper and easier to access but do present some chalanges
Data ages quickly, keeping data relevant and up to date takes a lot of effort
Databases may be incomplete and incorrect
Highly sophisticated equipment and techniques are required to manage large amounts of data
Marketing Intelligence system
Procedures and sources whereby management obtains information concerning current and relevant occurrences in the marketing environment
Intelligence systems focus on happenings in the marketing environment
The marketing intelligence subsystem includes formal and informal information gathering procedures
- Formal info gathering activities
Conducted by staff members assigned to specific task
- Informal Info gathering activities
Scanning Newspapers
Scanning Magazines
Scanning Trade Publications
The marketing intelligence subsystem
Competitive marketing intelligence collects and analyses information about consumers, competitors and developments in the market place
Competitive marketing intelligence improves strategic decision making by:
1. Gaining insight into consumer environment
2. Assessing and tracking competitors
3. Providing early signals of opportunities and threats
The statistical subsystem
This system is a composition of a statistical database and the application of advanced statistical procedures and techniques
THE PURPOSE – TO CREATE PROJECTIONS, SCENARIO’S AND MODELS WHICH PROVIDE A BETTER GRASP OF THE ALTERNATIVES FOR DECISION MAKING
eg. A model can illustrate the probable effect of a change in package design on sales
The marketing research subsystem
Gathers information not collected by other MIS components of subsystems
Marketing research studies are conducted for specific situations – also referred to as ad hoc studies
Marketing research is not continuous