MARKETING:REAL PEOPLE,REAL CHOICES
10th Edition
ISBN: 9780135199893
Author: Solomon
Publisher: RENT PEARS
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 4, Problem 1QA
Summary Introduction
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.
Expert Solution & Answer
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?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
What is the main role of Qualitative research methods?
How does the Qualitative research methods work on virtual interviews with participants, or analysis of an individual, or organization?
How does it relate to media to analyze patterns and themes?
Marketing Management Spring 25
Previous Activity
Test
Unit Test Active
1
2 3
4
56789 10 ►
Hal joined an online panel for Wigg Software on the Internet. This means he will
be asked some questions to see if he qualifies for a study
be listed as an employee with the software company
have the opportunity to talk with Wigg Software executives
possibly be part of a discussion forum, too
(Select all that apply.)
Mark this and return
Save and Exit
Next
Submit
English
Nariah Walker
Next Activity
Imagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo.
Identity the primary target market for your shampoo and provide your justification.
Chapter 4 Solutions
MARKETING:REAL PEOPLE,REAL CHOICES
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- Sales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Guide Objectives Collector devices Multi Sales promotion techniques What collector devices are permitted as sales promotions vehicles in many European countries (eg) What are the difficulties of using sales promotions across national boundaries Examples of recent sales promotions campaignsarrow_forwardSales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Guide Assumptions Economies of scale What they should consider to expand into countries which are not neighbors’ with similar codes of practice. What would give the agency economies of scales with its sales promotion campaign. What could assist in the integration and harmonization of sales promotions techniques.arrow_forwardSales promotion techniques used in some countries are not allowed in other countries. What influence might this have on a sales promotion agency wishing to expand operations from one country to a number of other countries. Criteria Description Student Guide Methods of evaluation Codes of practice How is sales promotions used from market to market What is required to expand sales promotions in new markets What is allowed: knowledge of the voluntary codes and practices The legal codes of practicearrow_forward
- The growth and use of social media for marketing and ways it benefits marketers versus using traditional marketing alone?arrow_forwardResponse to Gwyn Harper I picked fuel as the product purchased through an intermediary. Intermediaries add significant value to the purchase of products like fuel by providing several key services (NewStream Enterprises, 2020). They handle logistics and distribution, ensuring fuel is readily available at gas stations when needed. By purchasing fuel in bulk, intermediaries can negotiate better prices with refineries, passing on some of these savings to consumers. Additionally, they often test and verify the quality of fuel, ensuring it meets industry standards before it reaches consumers. Intermediaries also provide customer support, handling inquiries and resolving issues related to fuel purchases. Furthermore, they engage in marketing and promotion, offering discounts and rewards through promotions or loyalty programs (NewStream Enterprises, 2020). These value-added services enhance the overall purchasing experience and product quality for consumers. Consider the post. Identify one…arrow_forwardRespond to Cee One product I regularly purchase through an intermediary is my smartphone from a retailer rather than directly from the manufacturer. The intermediary adds value in several ways, making the purchasing experience more convenient and beneficial. First, they offer comparative shopping, allowing me to evaluate different brands, models, and pricing in one location. Retailers also provide customer support through in-person assistance, return policies, and warranty services, which might not be as accessible when purchasing directly from the manufacturer. Additionally, intermediaries often offer financing options, trade-in programs, and exclusive promotions, making the product more affordable and accessible. Finally, their role in inventory management and distribution ensures that products are readily available when needed, reducing wait times for customers. These added benefits make purchasing through an intermediary a more seamless and value-driven experience. Consider the…arrow_forward
- Response to G.H. I picked fuel as the product purchased through an intermediary. Intermediaries add significant value to the purchase of products like fuel by providing several key services (NewStream Enterprises, 2020). They handle logistics and distribution, ensuring fuel is readily available at gas stations when needed. By purchasing fuel in bulk, intermediaries can negotiate better prices with refineries, passing on some of these savings to consumers. Additionally, they often test and verify the quality of fuel, ensuring it meets industry standards before it reaches consumers. Intermediaries also provide customer support, handling inquiries and resolving issues related to fuel purchases. Furthermore, they engage in marketing and promotion, offering discounts and rewards through promotions or loyalty programs (NewStream Enterprises, 2020). These value-added services enhance the overall purchasing experience and product quality for consumers. Consider the post. Identify one…arrow_forwardWhy is a business plan important? What business idea are you using for your business plan? Describe it so classmates can see what everyone else is working on.arrow_forwardImagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo Using the information provided, identify each element of your marketing mix. (NB, you are NOT required to define marketing mix, but to list the marketing mix elements of the company). Identity the…arrow_forward
- What do you believe will be your highest costs associated with your proposed company? Why?arrow_forwardGlo bus Year6 Projected Y6 Performance Projections Help File Projected EPS, ROI, Credit Rating & Image Rating for Year 6 Earnings Per Share $1.30 $1.25 Return On Equity 20.4% 17.5% Credit Rating A– B+ Image Rating 70 70 Projected Net Revenues, Net Profit, and Ending Cash for Year 6 Net Revenues ($000s) 371,256 +11.1% Net Profit ($000s) 26,000 +73.3% Ending Cash ($000s) 25,453 +20,453arrow_forwardWhat do you think of the idea of agencies certifying an enlightened workplace?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing