Factors Affecting the Academic Performance free essay sample

Subsystems of Marketing Information System A well-designed market information system consists of four subsystems. †¢ The first is the internal records system, which provides current data on sales, costs, inventories, cash flows, and accounts receivable and payable. Many companies have developed advanced computer-based internal reports systems to allow for speedier and more comprehensive information. †¢ The second market information subsystem is the marketing intelligence system, supplying marketing managers with everyday information about developments in the external marketing environment. ..See below for more information. What is the definitions of Marketing Research The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization Steps in the Marketing Research Process The marketing research process consists of four steps: 1. Defining the problem and research objectives 2. Developing the research plan, 3. Implementing the research plan, and 4. Interpreting and reporting the findings. See below for more information.What is the definitions of Descriptive research Descriptive research is where the intent is to describe things such as the market potential for a product or the demographics and attitudes of customers who buy the product. We will write a custom essay sample on Factors Affecting the Academic Performance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A marketing information system (MIS) consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. MIS works in the following way: †¢ A well-designed marketing information system (MIS) begins and ends with the user.The MIS first assesses information needs by interviewing marketing managers and surveying their decision environment to determine what information is desired, needed, and feasible to offer. †¢ The MIS next develops information and helps managers to use it more effectively. Internal records provide information on sales, costs, inventories, cash flows, and accounts receivable and payable. Such data can be obtained quickly and cheaply, but must often be adapted for marketing decisions. †¢ Marketing intelligence supplies marketing executives with everyday information about developments in the external marketing environment.Intelligence can be collected from company employees, customers, suppliers, and resellers; or by monitoring published reports, conferences, advertisements, competitor actions, and other activities in the environment. Marketing research involves collecting information relevant to a specific marketing problem facing the company. †¢ Finally, the marketing information system distributes information gathered from internal sources, marketing intelligence, and marketing research to the right managers at the right times.More and more companies are decentralizing their information systems through networks that allow managers to have di rect access to information. b. The working of the Marketing Information System: If a marketing organization is to produce superior value and satisfaction for customers, marketing managers need information at almost every turn. They need information about customers such as resellers, end-users (who tend to be called consumers), as well as competitors, governmental and other forces in the marketplace.A marketing information system (MIS) consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. I. Assessing information needs: Marketing organizations must establish what information is needed or likely to be needed. This is a key feature of the MIS that underscores the importance of information. II. Developing information: Internal Records provide a wealth of information, which is essentially raw data for decisionmaking.An effective MIS organizes and summaries balance sheets, orders, schedules, shipments, and inventories into trends that can be linked to management decisions on marketing mix changes. III. Marketing Intelligence: Provides the everyday information about environmental variables that managers need as the implement and adjust marketing plans. Sources for intelligence may vary according to needs but may include both internal and external sources. Research: Marketing research links the consumer, customer, and public to the marketer through an exchange of information.