The third resource that marketers use to assist in their decision-making, besides Marketing Research and Marketing Intelligence is Internal Records ( record system)
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Subject: principle of Marketing
The third resource that marketers use to assist in their decision-making, besides
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- 1.Assume that you are a Marketing Manager and your company wants you to deploy an efficient Marketing information system. Explain how marketing intelligence will help in collecting information?Good market research is essential for planning and forecasting. It also helps target the appropriate market. As the marketing research industry expands, what skills will future executives need to possess? How do these skills differ from those currently needed to function successfully in the marketing research field?(a) Why might a marketing researcher prefer to use secondary data rather than primary data in a study? (b) Why might the reverse be true?
- c. Marketing intelligence and marketing research are used by marketers to make informed decisions. Explain the difference between both concepts?Define marketing research. Give example. Explain in detail marketing research process with suitable example.Please classify the basic steps of the marketing research. Explain each of them.
- The marketing decision support system (DSS) is an interactive computerised information system. I need to explain the purpose of this DSS as well as the characteristics it needs to be effective.To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Khaddi and your company wants you to deploy an efficient Marketing information system. Explain how all the components of the Marketing Information system will help Khaadi in collecting information and forecasting demand?Belbin Beverages Ltd flagship product, a honey flavoured beer targeted to women in the age bracket 21 to 40 have been experiencing slow sales over the past year. However, Belbin’s other beer products have continued to perform well. Your task is to conduct marketing research todetermine whether the product should be continued.You must write a report about the marketing research process and your findings.Your report should include:1. A definition of the problem and one research objective2. A descriptive research survey approach. This includesa. Objectives of the survey ( define at most three objectives)b. Details about the Survey approachc. A questionnaire (with at least 10 questions) that links to the research objectived. How the survey was administered (be specific regarding the amount of workers involved, the place/s and time/s)2. An analysis of the data presented graphically (use fictitious/self created data) 3. A presentation of the findings and conclusion
- What is big data, and what opportunities and challenges does it provide for marketers? Explain how internal databases differ from marketing intelligence. What are some advantages and disadvantages of both? What is behavioral targeting? Provide an example of behavioral targeting. How are firms responding to consumers and public advocates that it is a form of stalking consumers? Marketers make heavy use of both open-ended and closed-ended questions in questionnaires. What are some of the benefits or drawbacks of using each of these ways to ask questions? The marketing research process has several very distinct and important stages that need to be followed. In your opinion, which is the most important? Justify your view on this.32. What is a marketing information system (MIS)? What types of information does it include?How can a marketing researcher ensure that the sample used in a research study is representative of the target population, and why is this important in evaluating the research process? What are some common biases that can affect the results of market research, and how can these be mitigated to ensure accurate and reliable data?