Marketing Research and Marketing Information SystemEssay Preview: Marketing Research and Marketing Information SystemReport this essayThe marketing information system is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyze, evaluate, and distribute pertinent, timely and accurate information for use by marketing decision makers to improve their marketing planning, implementation, and control (Kotler, 2004). The system is built on an understanding of the information needs of marketing management of the marketing mix and the decision-making process of the business, where and how the manager requires it. Marketing research is one of the major elements of the marketing information system. Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem in the field of marketing. It provides the information to help managers to fine tune the marketing mix. However, advances in technology are bringing the new challenges in the scope and effectiveness of marketing research.
The marketing information system comprises four elements, including internal continuous data, internal ad hoc data, environmental scanning and marketing research. Internal continuous data is the enormous amount of marketing and financial data that may never be used for marketing decision-making. The MkIS is the conversion of financial data into a usable form by marketing management. Company data can also be used for a specific purpose. Capturing the data on the MkIS allows specific analyses to be conducted when needed. Environmental scanning focus on the economic environment analysis which provides an early warning system for the forces that may impact a companys products and markets in the future. Finally, marketing research concerns with the provision of information about markets and the reaction of these to the marketing mix. There are two types of marketing research can be distinguished: external continuous data and external ad hoc data. External continuous data reflects the customer purchase patterns and responses to promotion. External ad hoc data are often gathered by means of surveys into specific marketing issue, including usage and attitude studies, advertising and product testing. Usually the emphasis is on external data sources. Thus, marketing information system plays significant role to store and produce information on a continuous basis. This information is generally concerning behaviour, attitudes and motivations of a particular target group. Market research is the first step before any decisions are taken. As a supplier of information its role is only effective if it enables companies to make useful marketing decisions.
Nevertheless, a useful framework for understanding the steps involved in the marketing research process provides the basic way to conduct the marketing research. The start of the process is usually the realization that a marketing problem requires information to help its solution. Second, the research objectives should be defined. There are four types of research objectives, including exploratory, descriptive, correlational or causal. The chief purpose of exploratory research is to identify the variables which should be measured to reach a better understanding of the research problem. As the name suggests, descriptive research is concerned with describing market characteristics and marketing mix characteristics. Correlational research collects a set of facts organized into two or more categories and examines the relation between them. Causal research deals with the test hypotheses about cause and effect relationships. Developing the research plan is the third step. It includes
a set of hypotheses, which form the core of the research. The first is the theory, which is an outline of the research process.
This theory is presented in depth to a broad range of media organisations and to researchers with the aim of providing them with the details of a successful project. The second is the test hypotheses, which provide a description of the issues which need to be examined to resolve the issue.
A review of these factors, at their core, are the following:
These factors are presented to provide a description of the issues which need to be discussed and analyzed and, at the very least, a description of the research’s future prospects. This review is a tool for researchers, analysts, industry professionals, researchers with experience in marketing and research, and researchers with a background in the field of marketing. These factors are defined by the research goals and outcomes. A further aspect of this study plan is to provide a set of general guidelines and procedures for the field experts who will help the experts to carry out a thorough research on the problem in order to resolve its realisation.
With these guidelines and procedures the next step is to introduce the final step: a product management plan (GMP) which will include all pertinent and important information about this relevant topic. This GMP will then take into account all of the issues relevant to the issues in question.
There will be a draft GMP with relevant research objectives and information with respect to future research results provided. This draft GMP may differ from an earlier draft which would have included information about marketing products. But while the GMP is intended to be completed within the first three days of the project, it can be done in all stages in advance of it being accepted in public. However, in this case:
The information will also include:
an analysis of previous research questions, the number of publications and topics, the number of pages of data and the results used, how well the research was completed and what the results can reveal.
The final step will be to prepare the study plans. There will be a draft study plan, with each document, with the necessary changes. In the case of the manuscript, the final preparation is an in-depth evaluation of the research results using the following simple methods.
The study plan will describe the major research features of the research being conducted in order to inform the policy recommendations and to allow the experts to prepare a decision accordingly. The final draft and manuscript drafts are usually published later in advance of the formal study. The final draft will be available for online use later in the year. The final draft manuscript will include:
An analysis of both the number of published papers in the manuscript and how each of the key findings are explained. The initial draft of an overview report is also published and the final report will be published for immediate review of the authors. This report will include: – the status of all published studies and some previous research topics – which of these should be considered for publication in the study itself – the study design – the results of previous studies – which of these should not be used as a comparison in case of meta-analysis – the research topic – whether further research at different sites should be carried out in the study and the method – what the final results will mean for the future of the study – what conclusions the final report will reach and what can be made to make the conclusion. The final study shall then be published later in the year. The final stage of the study would include a review of the overall research experience of the study. The final stage of the whole study plan will then be provided as part of the document of study which will include the completed study plan.
From the main agenda on the paper, are the main objectives for the study. A set of criteria are set for the study, which will include: – a set of quantitative hypotheses to be tested and the main research goals and prospects. – a list of the results from the studies that