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Managing MarketingInformation Chapter 5 Objectives Understand the importance of information to the company. Know the definition of a marketing information system and be able to discuss its subparts. Learn the steps in the marketing research process. Objectives Learn how companies analyze and distribute marketing information. Realize the special issues some marketing researchers face, including public policy and ethical issues. Case Study “New Coke” was a fiasco; consumer complaints resulted in the return of “Coke Classic” after only 3 months. $4 million was spent researching “New Coke”. Key issue: the research problem was too narrowly defined, and consumer feelings were ignored. Poor judgment in result interpretation was also a problem. Marketing Info. System Marketing Information System (MIS) Consists of people, equipment, and procedures that gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Marketing Info. System Assessing Marketing Information Needs The MIS serves company managers as well as external partners. The MIS must balance needs against feasibility: Not all information can be obtained. Obtaining, processing, sorting, and delivering information is costly. Marketing Info. System Internal data is gathered via customer databases, financial records, and operations reports. Advantages of internal data include quick/easy access to information. Disadvantages stem from the incompleteness or inappropriateness of data to a particular situation. Marketing Info. System Marketing intelligence is the systematic collection and analysis of publicly available information about competitors and trends in the marketing environment. Competitive intelligence gathering activities have grown dramatically. Many sources of competitive information exist. Marketing Info. System Company employees Internet Garbage Published information Competitor’s employees Trade shows Benchmarking Channel members and key custo
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