MARKETING RESEARCH AND INFORMATION SYSTEMS Flashcards
- an interacting structure of people, equipment, methods, and controls which is designed to create an information flow that is capable of providing an acceptable base for management decisions in marketing.
MARKETING INFORMATION SYSTEM
The function of the MIS is to ________ and make them available for use in marketing decisions.
separate information
from data
GENERAL ACTIVITIES OF MIS
assessment of information needs
development of information
distribution of information
INTERNAL RECORDS
- financial statements, sales
and orders, costs, accounts
receivables, and cash flows
ACCOUNTING RECORDS
INTERNAL RECORDS
- production schedules,
shipments, and inventions
MANUFACTURING RECORDS
INTERNAL RECORDS
- salesforce call reports
SALES DEPARTMENT RECORDS
INTERNAL RECORDS
- reports on customer
satisfaction and warranty problems
CUSTOMER SERVICE DEPARTMENT RECORDS
INFORMATION GATHERED BY OTHER DEPARTMENTS
INTERNAL RECORDS
EXTERNAL RECORDS
- the gathering of everyday information about developments in the marketing environment
MARKETING INTELLIGENCE
EXTERNAL RECORDS
- compliments marketing intelligence in providing useful information to the marketing department.
- the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services
MARKETING RESEARCH
______ is undertaken by using the scientific method which is
“a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them”.
MARKETING RESEARCH
Five steps of Marketing Research:
- definition of the problem
- situation analysis
- obtaining problem specific data
- interpretation of data and
- problem solution
The last activity required of a MIS is the actual distribution of
information to managers. This is designed to provide them with a
better view in making marketing decisions.
DISTRIBUTING INFORMATION
Classification of Products (2)
Consumer goods
Industrial goods
goods intended for final consumption by consumers
Consumer goods
These are the products which are purchased with a minimum of effort.
Examples
Readily available in many retail outlets like soap, bread, soft drinks, milk, etc.
Convenience Goods
These are bought only after an effort to compare with other
good has been made.
Examples
Radio sets, ready-to-wear suits, shoes etc.
Shopping Goods
- goods the consumers are not willing or are not able to
accept substitutes.
Examples
Special medicines, jewelry, and exotic foods like turtle eggs.
Specialty Goods
- those goods that are not yet wanted by or are still
unknown to the consumer. Because of the said reasons,
consumers use no effort to seek them.
-new unsought goods
-regular unsought goods
Unsought Goods
goods used in the production of other goods
Industrial goods
This term refers industrial products with long-life, are generally expensive, and they form part of the major capital
equipment of an industrial firm.
Examples
Buildings, generators, computers, elevators and others.
INSTALLATIONS
These are industrial goods that are used as aids in the production process. They have a shorter usable life that installation.
Examples
Hand tools and lift trucks in factories, and typewriters and desks in offices.
ACCESSORY EQUIPMENT
These are unprocessed industrial goods that will become part another product.
RAW MATERIALS
2 Types of RAW MATERIALS
farm products
natural products
These are processed industrial goods that will still be used and become an actual part of the finished products.
COMPONENT PARTS AND MATERIALS
These are items that are used as
aids in the operating process but
do not become part of the finished product.
Example : Pencils, ink, paper clips, fasteners,
and others.
SUPPLIES
There are expense items that
assist in the operations.
Examples:
housekeeping, security services, and consultancy services
SERVICES
_________refers to the “familiar method of making products recognizable as unique and different, and which make it easy for buyers to identify items they purchase routinely”.
Branding
A _______ is a name, term, sign,
symbol, or design, or a combination of these elements,
that is intended to identify the
goods or services of one seller
or a group of seller.
brand
_______refers to all the activities involved in designing and producing the container or wrapper for a product. The container and wrapper is the package.
Packaging
a product sales growth from the beginning to its peak, followed
by a decline and its eventual withdrawal from the market.
It is the period between the birth and death of a product.
PRODUCT LIFE CYCLE
