Lecture 2

Question 1

What is the Marketing Information Concept?

Answer 1

Marketing Information is the interpretation of a set of facts (data), which will help the
marketing manager understand a marketing situation or make a marketing decision.

Question 2

What is Secondary Data?

Answer 2

“Data collected for some purpose other than the problem at hand.

Question 3

What is Primary Data?

Answer 3

“Data originated by the researcher for the specific purpose of addressing the research
problem

Question 4

What is the Marketing Information System?

Answer 4

A marketing information system (MKIS) is a collection of sources of data and the means for
storing and converting that data into information

Question 5

What are the Elements of the Marketing Information System?

Answer 5

• Internal Databases
• Marketing intelligence
• Primary Marketing Research

Question 6

What is Internal Databases

Answer 6

Internal databases are the records generated by the company’s
transactions with the market and other entities

Question 7

What is Marketing Intelligence

Answer 7

Marketing intelligence is the systematic collection and analysis of
publicly available information about competitors and developments in the marketing
environment. (Gathering intelligence like in spy movies but for marketing.)

Question 8

What is Primary Marketing Research

Answer 8

Proprietary research studies that provide marketers with specific
information for specific marketing situations and decisions. (Surveys)