Marketing Research And Information Systems .pdf

MARKETING RESEARCH AND INFORMATION SYSTEMS Reporters : Ms. Jennifer Orense Mr. Caloy Mojares Mr. Dan Primo Ms. Angel Sanchez What is Marketing Research? Marketing research is like a detective investigating the market. It helps businesses unders...

MARKETING RESEARCH AND INFORMATION SYSTEMS Reporters : Ms. Jennifer Orense Mr. Caloy Mojares Mr. Dan Primo Ms. Angel Sanchez What is Marketing Research? Marketing research is like a detective investigating the market. It helps businesses understand their customers, competitors, and the overall market environment. Why is it important? It helps businesses make informed decisions about: 1. Products: What to sell, how to design them, and what features to include. 2. Pricing: How much to charge for products and services. 3. Promotion: How to reach and persuade customers. 4. Distribution: Where to sell products and how to get them to customers.  Types of Marketing Research Exploratory Research- Exploring new ideas and understanding a problem better. Descriptive Research- Describing the characteristics of a market or a group of consumers. Causal Research- Testing cause-and-effect relationships. Marketing Information Systems (MIS) An MIS is like a central hub for all marketing information. It collects, stores, analyzes, and distributes data to help businesses make decisions Components of an MIS: Internal Data: Sales records, customer databases, etc. - Marketing Intelligence: Information gathered from competitors, industry trends, etc. - Marketing Research: Data collected through surveys, focus groups, etc. - Marketing Analytics: Tools and techniques used to analyze data and gain insights. The Marketing Research Process: Step 1: Define the Problem: Clearly state what needs to be investigated. Step 2: Develop a Research Plan: Decide on the research methods, data collection techniques, and budget. Step 3: Collect Data: Gather information through surveys, interviews, experiments, etc. Step 4: Analyze Data: Organize and interpret the collected data. Ethical Considerations in Marketing Research Privacy: Protect the privacy of research participants. Honesty: Be truthful and transparent in data collection and analysis. Confidentiality: Keep information confidential and only use it for the intended purpose  Conclusion 1. Marketing research and information systems are essential tools for successful marketing. - By understanding the market and using data- driven insights, businesses can make better decisions and achieve their marketing goals. THANK YOU