Extensive Marketing Comoponents

Question 1

Extensive marketing components

Answer 1

The internal reporting Subsystem
Marketing Intelligence subsystem
The statistical subsystem
The marketing research subsystem

Question 2

The internal reporting Subsystem

Answer 2

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

Question 3

Marketing Intelligence system

Answer 3

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

Question 4

• Formal info gathering activities

Answer 4

Conducted by staff members assigned to specific task

Question 5

• Informal Info gathering activities

Answer 5

Scanning Newspapers
Scanning Magazines
Scanning Trade Publications

Question 6

The marketing intelligence subsystem

Answer 6

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

Question 7

The statistical subsystem

Answer 7

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

Question 8

The marketing research subsystem

Answer 8

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