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Managing Marketing Information Essay

1152 words - 5 pages

1) Explain the importance of information to the company Marketing managers need timely, reliable, and relevant information in order to make decisions that will enhance the company's ability to compete successfully in the marketplace. Information is very important too the company because it allows companies to produce superior value and satisfaction for customers. It is important for companies to have solid information in order to create and/or develop good products and marketing programs. Companies also need an abundance of information on competitors, resellers, and other actors and forces in the marketplace. For example in the telecommunication, industries, companies need to keep themselves updated about what their competitors are offering out there to customers. You see nowadays that cellular phone companies tend to be more and more similar; the calling plans they offer are very alike. However, at the same time they try hard to gain competitive advantage by offering something that their competitor might not have. Verizon tend to attract customers for its excellent networking, on the other hand companies such as Cingular and Sprint who do not have such a good network tend to come up with creative programs that could be attractive to customers. Cingular for example has come up with the roll over minutes program, with which customers can carry on their remaining minutes to the next month. Similarly Sprint came up with something that would aloe it to also catch the attention of customers; they have come up a new program that allow customers to start using their night time minutes from 7 p.m. instead of 9 p.m., which is the standard for other cellular phone carriers. Whether it is Verizon, Cingular, or Sprint you can see that they are all using information to gain competitive advantage and add value to their customers.2) Define the marketing information system and discuss its parts A marketing information system consist of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. The marketing information system is used as a competitive weapon by companies and it is also a powerful decision making tool; marketing information systems are intended to support management decision making. A marketing information system is intended to bring together disparate items of data into a coherent body of information. A marketing information system is more than raw data or information suitable for the purposes of decision making. A marketing information system also provides methods for interpreting the information the marketing information system provides.Just like with any information system, there are many parts to a marketing information system. A marketing information system begins and ends with information users who need marketing information, such as marketing managers and internal and external partners. First of all, it interacts with these information users to...

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