Page 149 - DLIS402_INFORMATION_ANALYSIS_AND_REPACKAGING

Information Analysis and Repackaging

Notes Use of Technologies

Marketing management can also rely on various technologies within the scope of its marketing efforts.
Computer-based information systems can be employed, aiding in better processing and storage of
data. Marketing researchers can use such systems to devise better methods of converting data into
information, and for the creation of enhanced data gathering methods. Information technology can
aid in enhancing an MKIS’ software and hardware components, and improve a company’s marketing
decision-making process.
Technological advancements can lessen barriers between countries and regions. Using the World
Wide Web, firms can quickly dispatch information from one country to another without much
restriction. Prior to the mass usage of the Internet, such transfers of information would have taken
longer to send, especially if done via snail mail, telex, etc.

Recently, there has been a large emphasis on data analytics. Data can be mined from various sources
such as online forms, mobile phone applications and more recently, social media.

Make a report on buying behaviour.

7.8 Summary

• Marketing is the process used to determine what products or services may be of interest to
customers, and the strategy to use in sales, communications and business development.
• It generates the strategy that underlies sales techniques, business communication, and busi-
ness developments.
• Marketing is used to identify the customer, satisfy the customer, and keep the customer.
• The Chartered Institute of Marketing defines marketing as “the management process respon-
sible for identifying, anticipating and satisfying customer requirements profitably.
• In the consumer-driven approach, consumer wants are the drivers of all strategic marketing
decisions.
• Marketing research involves conducting research to support marketing activities, and the
statistical interpretation of data into information.
• The marketing research process spans a number of stages, including the definition of a prob-
lem, development of a research plan, collection and interpretation of data and disseminating
information.
• Information of Marketing is measurable communication aimed at increasing knowledge and
creating competence within the target groups.
• Information gathered from sources within the company to evaluate marketing performances
and to detect marketing problems and opportunities.
• The marketing intelligence system determines the intelligence needed, collects it by search-
ing the environment and delivers it to marketing managers who need it.
• Marketing focuses on two basic objectives, acquiring new clients and retaining the current
base.
• A marketing information system (MIS) is a set of procedures and methods designed to gener-
ate, analyze, disseminate, and store anticipated marketing decision information on a regular,
continuous basis.

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