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MANAGING MARKETING INFORMATION SYSTEM

CHAPTER 4 Page 1

Market Information System (M.INFO.SYSTEM)

Market Intelligence System (M.INTEL.SYSTEM)

Market Research System (MR)

Market Decision Support System (MDSS)

Market Information System:

M.Info.System is a system in which we

Gather Sort

Analyze Evaluate

Disseminate/ distribute

General information/ overall information which should have

Correct information

Relevant information

Timely information

for the managers to make decisions

Market Intelligence System:M.Intel.System is a system in which we

Gather Sort

Analyze Evaluate

Disseminate/ distribute

Specific/ required information which should have

Correct information

Relevant information

Timely information

for the managers to make decisions

Market Research System:M.R System is a system in which we

Gather Sort

Analyze Evaluate

Disseminate/ distribute

Problem related/ short/ lack of information areas which should have

Correct information

Relevant information

Timely information

for the managers to make decisions

Market Decision Support System:MDSS System is a system in which we

Gather Sort

Analyze Evaluate

Disseminate/ distribute

Software, tools, techniques & equipments which should have

Correct information

Relevant information

Timely information

for the managers to make decisions

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MANAGING MARKETING INFORMATION SYSTEM

CHAPTER 4 Page 2

RESEARCH APPROACHES/ METHODS FOR CONDUCTING MARKETING

RESEARCH (DIFFERENT TYPES OF RESEARCH):

Research approaches for gathering primary data include observation, survey and

experiment

a. Observational Research:

Observational research involves gathering primary data by observing relevant

people, action & situations. Observational research can obtain information that

people are unable to provide. In some cases, observation may be the only way to

obtain the needed information

b. Survey Research:

Survey research, the most widely used method for primary data collection, is the

approach best suited for gathering descriptive information. A company that want

to know about peoples knowledge, attitude, preferences or buying behavior can

often find out by asking them directly

The major advantage of survey research is its flexibility. It can be used to obtainmany different kinds of information in many different situations

c. Experimental Research:

Whereas observation is best suited for exploratory research & survey for

descriptive research, experimental research is best suited for gathering casual

information.

Experiments involves selecting matched groups of subjects giving them different

treatments, controlling, unrelated factors & checking for differences in group

response. Thus experimental research tries to explain cause & affect relationship

d. Contact Method:

Information can be collected by mail, telephone, and personal interview or online Mail: Mail questionnaires can be used to collect large amount of

information at a low cost per respondent

Telephone Interviewing: This is the best methods for gathering

information quickly & it provides greater flexibility than mail questioners

Personal Interviewing: Two types of personal interviewing

Individual interviewing involves talking with people in their

homes or offices on the street or in shopping malls, such

interviewing is flexible

Group Interviewing it consists of inviting 6 to 10 people to meet

with a trained moderator to talk about a product, services or

organization

Online Market Research: Advances in communication technologies have

resulted in a number of high-technology contact methods. The latest

technology to hit marketing research is the internet. Increasingly

marketing researchers are collecting primary data through online

marketing research