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Internal Reports and Marketing Intelligence

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Internal Reports and Marketing Intelligence

Created by

@OverjoyedObsidian4830

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Questions and Answers

What is the purpose of internal reports for marketing managers?

To provide information related to customer orders, sales, price levels, cost, inventory levels, receivable, and payables.

What is the order-to-payment cycle in the internal record system?

It is the process where customers send orders to the firm, leading to payment.

How do marketing managers use marketing intelligence?

They use it to collect external data about specific markets to make informed decisions.

Explain the significance of marketing intelligence in decision-making.

Marketing intelligence provides the first set of data for companies to analyze before making any investment decisions. Signup and view all the answers

What types of data are included in internal reports for marketing managers?

Customer orders, sales data, price levels, cost information, inventory levels, receivables, and payables. Signup and view all the answers

What is the main focus of internal reports for marketing managers?

Customer orders, sales, price levels, cost, inventory levels, receivable and payables Signup and view all the answers

Describe the process of the order-to-payment cycle in the internal record system.

Customers send orders to the firms, which then goes through the payment process. Signup and view all the answers

Why is marketing intelligence considered essential for companies entering a new market?

To make informed decisions based on external data about the specific market. Signup and view all the answers

How do internal reports and marketing intelligence complement each other in aiding marketing managers?

Internal reports provide internal data, while marketing intelligence provides external data for decision-making. Signup and view all the answers

Explain the role of the order-to-payment cycle in managing the financial aspects of a business.

The cycle ensures that orders are processed efficiently and payments are received, impacting cash flow. Signup and view all the answers

Study Notes

Marketing managers rely on internal reports for information on customer orders, sales, price levels, cost, inventory levels, receivables, and payables.
The order-to-payment cycle is the central component of the internal record system.
Customers send orders to the firms, which are recorded in the internal reports.
Marketing intelligence is external data collected by a company about a specific market it wants to enter.
Marketing intelligence is analyzed by the company before making investment decisions.

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Description

Learn about the importance of internal reports and marketing intelligence for marketing managers. Understand how internal reports on customer orders, sales, and more, along with external market data, help in decision-making processes.