Monday, September 10, 2012

Marketing Research and Information Systems

Marketing Information System (MIS):
People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. [Note: MIS also stands for Management Information System.
Keywords: Marketing, marketing information system(MIS),database, research, open access resources, open access, omics, omics group
Main Idea:
Marketing information system (MIS):
Marketing managers - Analysis, planning, implementation, organization, control
Marketing Information System comprises:
• Assessing information needs
• Developing needed information
• Internal databases
• Information analysis
• Marketing intelligence
• Marketing research
• Distributing information
Marketing Environment:
• Target markets, marketing channels, competitors, publics, macro-environment forces
Assessing Information Needs:
• Internal Databases
• Many companies have computerized collections of data gathered from sources within the company (e.g. data warehouse)
• Can be accessed more quickly and cheaply than other sources
• Problems
• May be incomplete or in the wrong form
• May be out of date, keeping it up to date needs much effort
• Data warehouses increasingly used to make information retrieval easier
• Data mining also used to uncover hidden patterns in data
Advantages and disadvantages:
• Cheaper and easier to get (than primary information)
• Can provide data that a company cannot collect on its own (i.e. information not directly available or too expensive to collect)
• Required information may not exist in secondary information sources
• Does not necessarily apply completely to the problem at hand
Researcher must evaluate secondary data to ensure that it is
• Relevant (fits research needs)
• Accurate (reliably collected and reported)
• Current (up to date for research purposes)
• Impartial (objectively collected and reported)
Implementing the research plan
• Data collection by own people or by outsourcing
• Outsourcing has risk of negligence in the data collection process (e.g. interviewer shortcuts), but is quicker and costs less
• Data collection is expensive and most subject to error
• Data needs to be entered into a database for further analysis
Interpreting and reporting the findings
Find meaningful results and report to management, avoid fancy statistical techniques Interpretation should not be done by researcher alone
• Manager should check research was carried out properly
• Manager may have additional questions after seeing initial results
• Manager ultimately decides on how to act on data
• Raw data should be made available to manager and other stakeholders, so further analysis can be easily done.
Other marketing research considerations:
• Small businesses and nonprofit organizations:
o Techniques may be used, but usually less formal and at little expense Observing, phoning people on spare time, sending managers to competitor restaurant, experiments.
• International market research Mostly same, some specific problem like
o Variations in culture, customs, buying patterns etc
o Difficult to find good secondary data => must typically collect own primary data
o Cultural differences, especially language may be a problem (translations lose information); Latin American countries => questionnaires may be thought of as too personal.

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