Transcript Marketing Information Systems

Marketing Essentials
n Chapter 28 Marketing Research
Section 28.1 Marketing
Information Systems
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SECTION 28.1
Marketing Information Systems
What You'll Learn
 The importance of marketing research
 The function of a marketing information system
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SECTION 28.1
Marketing Information Systems
Why It's Important
Successful companies must be able to
understand the needs and wants of their
customers. Marketing research can provide
the necessary information to help a business
while planning, solving problems, and making
decisions regarding its products and services.
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SECTION 28.1
Marketing Information Systems
Key Terms
 marketing research
 marketing information system
 database
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SECTION 28.1
Marketing Information Systems
Defining Marketing Research
Marketing research links the consumer,
customer, and public to the marketer through
information. Marketing information is used to
identify marketing opportunities, solve
marketing problems, implement marketing
plans, and monitor marketing performance.
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SECTION 28.1
Marketing Information Systems
Why is Marketing Research Important?
Given the high failure rate of new products on the market,
marketing research can make or break a business.
Marketing research helps businesses:
 plan future operations to increase sales and profits
 decide what products to produce
 decide where to sell products
 decide how to promote products
 decide how to price products
 solve marketing problems
 anticipate future marketing potential
 keep track of current markets and competitors
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SECTION 28.1
Marketing Information Systems
Who Uses Marketing Research?
Marketing research is valuable for organizations
of any size.
Marketing research is useful to:
 businesses
 state and federal governments
 trade associations
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SECTION 28.1
Marketing Information Systems
Market Research Revenues by
Industry Groups
Over $3 billion is spent
annually by industry groups
for marketing research. Why
does the government spend
money on marketing
research? What industry
groups do you think would be
interested in your opinions?
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SECTION 28.1
Marketing Information Systems
Marketing Information Systems
A marketing information system is a set of procedures
and methods that regularly generates, stores, analyzes,
and distributes marketing information. Data includes:
 Company records: sales results, expenses,
supplier data
 Competitors' records: prices, location, market share
 Customer profiles: buying behavior, shopping
patterns, lifestyles
 Government data: price trends, economic projections
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SECTION 28.1
Marketing Information Systems
Marketing Databases
Information technologies have made the
collection and analysis of data for marketing
decision-making much easier. Information
about consumers and their buying habits are
stored in a computer database, a collection
(or file) of related information about a
specific topic.
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SECTION 28.1
Marketing Information Systems
Difficulties of Marketing Information
Systems
Setting up a marketing information system
requires a significant investment of time
and money. Trained personnel are needed
to maintain and analyze the data collected
in the system. Vast amounts of data can
be obtained, so businesses have to
prioritize the information that is most
important to them.
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28.1 ASSESSMENT
Reviewing Key Terms and Concepts
1. What is marketing research?
2. How does marketing research help
businesses?
3. Who uses marketing research?
4. What is a marketing information system?
5. What is a database?
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28.1 ASSESSMENT
Thinking Critically
Supermarkets often require the use of a
"valued customer" card to obtain special
discounts on the store's products. Do you
think that supermarkets should give special
bargains in exchange for personal
shopping information?
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Marketing Essentials
End of Section 28.1
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