Business: Marketing and Life Cycle

Topics: Marketing, Product life cycle management, Product management Pages: 5 (1419 words) Published: March 8, 2013
Chapter 7, 8, and 9 Questions and Problems

Name: Juanita Askew
Date Submitted: 10/22/2012
Week Number: Three
Chapter/Question: Chapter Seven, Eight, Nine/Questions 1,7,18,2,9,10,1,2,8

1. Discuss the concept of a marketing information system and why it is important for marketing managers to be involved in planning the system. A marketing information system is a management information system designed to support marketing decision making. Trend in the marketing environment are picked up and analyzed through four subsystems making up the marketing information systems the internal accounting systems, marketing intelligence system, marketing research systems, and analytical systems. The information flows to marketing managers to help them in their marketing analysis planning, implementation, and control. Their marketing decision and communication then flow back to the market.

2. Distinguish between primary data and secondary date and illustrate your answer. Primary data is data which has been collected by you, which is more reliable and up to date. Secondary data has been collected from a secondary source (Other people, business etc.) so it may not be valid or up to date. "Secondary data" are data that were collected for another reason but is being re-purposed to address the need at hand. When describing the expertise of data analysts, it is not uncommon to distinguish between primary and secondary data analytics. Primary data analytics involves the ability to analyze data for the purpose by which it has been collected. Secondary data analytics involves identifying "secondary data sources" to solve a new problem and then the ability to re-purpose that data.

3. Marketing research involves expense sometimes considerable expense. Why does the text recommend the use of marketing research even though a highly experienced marketing executive is available? It is extremely difficult to develop and provide a high-quality product or service without conducting at least some basic market research. Some people have a strong aversion to the word “research” because they believe that the word implies a highly sophisticated set of techniques that only highly trained people can use. Some people also believe that, too often, research generates lots of useless data that is in lots of written reports that rarely are ever read, much less used in the real world. This is a major misunderstanding. Odds are that you have already conducted at least some basic forms of market research. For example, you have listened (a research technique) to others complain about not having enough of something that should suggest providing what they need in the form of a product or service .Market research has a variety of purposes and a variety of data collection methods might be used for each purpose. The particular data collection method that you use during your market research depends very much on the particular information that you are seeking to understand.

4. Discuss several ways in which physical goods are different from pure services. Give example of a good and then an example of a service that illustrates each of the differences. Goods and services are the outputs offered by businesses to satisfy the demands of consumer and industrial markets. The goods and services continuum enables marketers to see the relative goods/services composition of total products. A product's position on the continuum, in turn, enables marketers to spot opportunities. At the pure goods end of the continuum, goods that have no related services are positioned. At the pure services end are services that are not associated with physical products. Products that are a combination of goods and services fall between the two ends. For example, goods such as furnaces, which require accompanying services such as delivery and installation, are situated toward the pure goods end. Products that involve the sale of both goods and services, such as auto repair, are near...
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