Marketing topic 7 - Information system and market research Flashcards
Marketing Information System (SIM) Definition
Organised set of human and material resources aimed at obtaining, storing, updating and analysing data in order to transform it into useful information for making marketing decision
What does Marketing Information System do?
- Provides continuous information for decision-making routine decisions
- Alerts of any changing in the commercial scenario
- Is prepared to provide urgent information
- Study and provides information about these changes
- Carries out specific investigations for problems
What is it necessary to know when designing a SIM?
- The type of decisions that are taken to identify the information required
- Determine the degree of specificity
- Evaluate the quality and usefulness of the information we receive
Internal data system definition
Set of elements, instruments and procedures used to capture data produced by the organisation and its processing to obtain useful information for decision making.
Works with databases with information from:
Reports from other departments
website, socia media etc
Advantages: Cheap, fast, continuous
Disadvantages: out of date & not very accessible
Marketing Intelligence system
It provides regular information about the environment, identifying aspects that can exert greater influence on the evolution of the company. They are especially useful for managers in preparing the marketing plan
Works with databases with data coming from
- Own engineers and scientists
- Information from suppliers
- External reports etc
Advantages: cheap, fast, continuous
Disadvantages: It may be our of date, not very accessible
Commercial Investigation
It deals with collecting information sporadically to respond to specific problems that a company occasionally tries to give answer to. (It is left for serious cases such as the launch of new products)
Advantages: specific to the problem
Disadvantages: slower and expensive
What is involved in the Marketing Information System?
- Internal data system
- Marketing intelligence system
- Commercial investigation
Business research concept definition - Commercial research
The systematic and objective search and analysis of relevant information for the identification and solution of any problem in the field of marketing
What can we use business research concept for? - Commercial research
- Study of a change in competence
- Product launch
- Price fixing
- Changes in distribution
Who applies business research concept? - commercial research
In large companies their own marketing departments
The smaller or larger companies for special cases go to specialists in market research
Stages of commercial research
- Define the problem and objectives (narrowing down the problem is the most difficult step. It is done between marketing managers and research experts)
- Development of the research plan (must decide the research focus, what information is needed and the data collection instruments of that information)
- Plan implementation: obtain and analyse data (What type of information do we need secondary/primary & the technique to collect said information qualitative/quantitative)
- Interpret and report results
Exploratory studies definition
Exploratory studies allow us to approach unknown phenomena, in order to increase the degree of familiarity and contribute with ideas regarding the correct way to approach a particular investigation
Descriptive studies
Descriptive studies are in an intermediate position between exploratory and casual studies, and are the ones most frequently carried out in business practice. As their name indicates, they only want to describe some aspect of reality
Casual studies
Casual studies try to establish whether or not there are cause-effect relationships between different variables studied
