
Concept explainers
To determine: Marketing information system and the type of information it includes.
Introduction: A Marketing information system is a type of management information system which is drafted to support the decision making of marketing.

Answer to Problem 1QA
Marketing information system is a type of management information system supported by different type of components such as competitive intelligence, internal data, and
Explanation of Solution
Given information: Marketing information system and the types of information it provide to the company.
Collecting data, its distribution, analysis, storage, interpretation, and dissemination of market’s information from external and internal sources to the marketers on continuous and regular basis is called as Marketing Information System.
The information related to marketing is distributed to the marketers so that they can take efficient decision for the operations of the marketing. For example- Packaging, pricing, development of new products etc
Marketing information system includes following components-
→ Internal data- The companies collect the data of their customer for their internal operations. These operations include maintaining the information about the customer’s interest, their gender, products that they purchase, their location and purchase behavior. The companies may also collect the data of their successors.
→ Competitive Intelligence- Competitive intelligence is the better understanding of an organization or the company who are in the competition and the understanding of market dynamics. This includes product information, pricing strategy, penetration and market share, messaging and composition positioning, loss or win analysis.
→ Marketing research- Marketing research is the process of analyzing data collected from the market on the basis of market opportunity, new products, and customer’s purchase behavior. Companies also identify the problem and try to solve it with the data collected from the market after research. Companies include the recommendation of their customers and other marketing entities while solving the market problem. The factors which are considered while research are environmental factors, marketing, advertising, and promotions of the products, corporate research etc
Want to see more full solutions like this?
- From a cultural perspective, based on research that you have conducted. Select three of the listed topics you consider relevant to explore in your discussion that will help a company better understand what it is like to live as a citizen in the country you have chosen: geography, social institutions (e.g., family, education, politics, legal system, and social welfare), religion, living conditions, and language.arrow_forward'Memories in a box' is a business involved in gift baskets for all occassions and event planning located in Trinidad and tobago a) Provide a brief background of the company. include the business concept and give justification for the profitability of this venture in the current market or economy. b) Emphasize the unique selling points of the business. C) Identify the products and services that the company intends to offer, to include the target market. d) State the strategic vision and mission for the business.arrow_forwardWhat are the 10 things/places/foods/culture or anything that could showcase the attractiveness of the Philippines to foreign investors? To encourage them to invest?arrow_forward
- Examine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization elaborate on Outsourcing and Workforce Optimization• Outsourcing customer support to third-party providers in cost-effective locations can reduce expenses while maintaining service availability. • Workforce Optimization uses data analytics to schedule staff efficiently, ensuring the right number of agents are available based on demand patterns, minimizing idle time and overtime costs. • Hybrid Models combine in-house teams for high-value interactions and outsourced teams for routine inquiries, balancing quality and cost.arrow_forwardExamine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization 2. AI-driven customer supportarrow_forwardThe various objectives of promotion. What ways does promotion benefit marketers?arrow_forward
- | do not copy from another same ques answer,i need differe nt one. Task Description: One of the most important questions faced by business leaders in the strategic marketing process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, the relative success of each strategy depends on several factors, both internal and external. Tasks: Answer the following essay questions: 1. What are the advantages of being a pioneer and follower company? Provide examples of successful pioneer and follower companies. 2. What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made. Follow instruction: 1. Word: within 2500 word, not bellow 2400. 2. Give table, charts, diagrams, graphs and images should be properly cited and properly named.arrow_forwardWhat is a good response to this statement? Hi Class, The global company that I believe does an excellent job of marketing is Salesforce. According to Salesforce, the International Data Corporation (IDC) ranked Salesforce as the #1 CRM vendor worldwide. (Salesforce, 2024) Every business relies on a CRM to manage its contact data, specifically, the contact information so that sales and marketing teams can communicate with the customers, prospects, vendors, partners, affiliates, and any other contact that conducts business with the company. CRM systems are the lifeline of the sales team. I believe the success of Salesforce’s marketing strategy lies in their ability to become experts of their buyers—the buyer's needs and challenges, buying drivers, social and economic drivers, and trial-to-product adoption strategies. Salesforce is constantly innovating its platform to stay ahead of competitors. The company also leverages strategic acquisitions such as Tableau and Slack to propel growth…arrow_forwardWhat is a good response to this post? Hi Class, The global company that I believe does an excellent job of marketing is Salesforce. According to Salesforce, the International Data Corporation (IDC) ranked Salesforce as the #1 CRM vendor worldwide. (Salesforce, 2024) Every business relies on a CRM to manage its contact data, specifically, the contact information so that sales and marketing teams can communicate with the customers, prospects, vendors, partners, affiliates, and any other contact that conducts business with the company. CRM systems are the lifeline of the sales team. I believe the success of Salesforce’s marketing strategy lies in their ability to become experts of their buyers—the buyer's needs and challenges, buying drivers, social and economic drivers, and trial-to-product adoption strategies. Salesforce is constantly innovating its platform to stay ahead of competitors. The company also leverages strategic acquisitions such as Tableau and Slack to propel growth and…arrow_forward
- What is a good response to this post? The company I choose for this discussion is Canon. Canon is the leader in global imaging, and they are known for their innovative cameras and high-quality products. Canon caters to various markets, and they are known worldwide to be the best imaging solutions brand in the world. Canon is the perfect example of effective international marketing strategies. Canons marketing strategy is mainly driven on their focus of innovation and technology. There new Canon R1 is labeled “ahead of the Game” and no other camera on the market comes close to what this camera offers. Their products have continued to prove that they will meet the demands of every photographer and videographer across the world. Canon has continuously stayed ahead of all of its competitors like Nikon and Sony and has maintained the number one position in the market. Canon also leverages digital marketing such as social media to enhance its brand awareness. They have used social media…arrow_forwardSuggest, three ways, your company (service and product provider) can attain asustainable competitive advantage in the local market. Give rationales for youranswer.arrow_forward1. please answe the following. • Explain how e-commerce businesses can effectively utilize email marketing and social media marketing to build customer relationships. Discuss the benefits and challenges of each strategies. • Compare and contrast the advantages and disadvantages of dropshipping and white labeling as e-commerce business models. Provide examples to support analysis.arrow_forward
- Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage LearningMarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing

