A well-designed market information system consists of four subsystems. • The first is the internal records system, which provides current data on sales, costs, inventories, cash flows, and accounts receivable and payable. Many companies have developed advanced computer-based internal reports systems to allow for speedier and more comprehensive information. • The second market information subsystem is the marketing intelligence system, supplying marketing managers with everyday information about developments in the external marketing environment... See below for more information.
What is the definitions of Marketing Research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization Steps in the Marketing Research Process The marketing research process consists of four steps:
1. Defining the problem and research objectives
2. Developing the research plan,
3. Implementing the research plan, and
4. Interpreting and reporting the findings.
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What is the definitions of Descriptive research
Descriptive research is where the intent is to describe things such as the market potential for a product or the demographics and attitudes of customers who buy the product. A marketing information system (MIS) consists of people,
equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. MIS works in the following way: • A well-designed marketing information system (MIS) begins and ends with the user. The MIS first assesses information needs by interviewing marketing managers and surveying their decision environment to determine what information is desired, needed, and feasible to offer.
• The MIS next develops information and helps managers to use it more effectively. Internal records provide information on sales, costs, inventories,...