Essay About Marketing Research Systems And Customer Needs

Mkt 5321 – Marketing Information Systems
James GregoryMkt 5321Marketing Information Systems (MIS) and Marketing Research Systems (MRS) are similar in that both systems are data driven approaches to analyze and intelligently make better marketing decisions to benefit the firm. However, although they are both marketing research approaches, they do have several differences and are used to execute on different agendas.     A Marketing Information System (MIS) is similar to a database of relevant marketing information that is collected and stored for when a marketing manager may need to retrieve that information. It is an ongoing and permanent process. Also, the MIS needs different information for different levels within the organization, for example the sales department will need different information than the public relations department. Therefore a good MIS should be customizable to the individual or department needing the information. An MIS however is not specific. It is general in collecting and harboring the data. A strong MIS will cover all sectors of the organization.  Much of the key information will be captured within the organization by using data stored into the CRM. The information collected from outside the organization should be at a macro level such as changing demographics, economic conditions, technology, the environment, and the political landscape, and also the competition. Market Research Systems on the other hand are specific to solving a particular problem. MRS still uses the methodical identification, collection, and analysis of data, however it is geared to solving a particular defined marketing problem, or opportunity. The data gathered during the MRS process is not by accident and always has a specific purpose such as customer needs, pricing, buyer intent, and it can be used to gather data relevant to the rolling out of a new product. The MRS provides valid results with accuracy for a next steps execution. An MIS can only provide historical data on previous similar products. The steps included in Market Research are: Define the problem, meaning what is the real problem that we are trying to solve here. For example a decline in sales is a symptom of the problem, the goal in this stage is to define the problem. Secondly, the MRS needs a research design, that is, a next steps approach to attacking the research problem. This is the most crucial step of the MRS since it will guide the rest of the project, and therefore needs to be a well thought out design. Also at this stage it is imperative to focus on what type of research needs to be done such as exploratory research, descriptive research, or causal research. Next the firm also needs the valid information found in secondary sources such as: market research organizations, internet, and government sources. These secondary sources are external sources from without the organization. Then the data needs to be collected to be made available for further analysis where the information is verified. Lastly the MRS must report the findings, where higher level decision making will take place in the organization based on the findings.