Microsoft Word marketing doc

Conjoint Analysis : 
It is used to measure consumer preferences for alternate product ideas 
and product attributes combinations. It measures the joint effect of two or more 
independent variables or strategy options like price, package, colour brand 
name, etc. on the ordering of a dependent variable, like the preference, or 
purchase intention. 
The significant changes that are taking place in the marketing 
environment of the country will expand the role of MR and enhance its stature. 
Earlier customers were just being asked whether they have any specific 
dissatisfactions or complaints. Now, their extent of satisfaction is being 
measured and with the aid of this information, companies are adjusting their 
strategies. 
Thus, each and every decision area of marketing needs the support of 
marketing information. 

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SUMMARY
 
Each and every decision area of marketing needs the support of 
marketing information. 
Marketing excellence is the net outcome of correct marketing decisions 
and the decisions can be correct only when they are information based. No 
marketing organistion can function effectively without appropriate and timely 
information on each and every aspect of marketing – the consumer, the market, 
the competition and the environment. In such a way the marketing information 
benefits a firm in a variety of ways. So, it is having its own importance. 
The management information system which is adopted to the specific 
need of the marketing function may be termed as the marketing information 
system. 
There are two methods of collecting market information. 
1. 
Classification based on the end use of the information. It is again 
classified into four groups, they are, information for marketing planning, 
marketing operation, key decisions in marketing and marketing control. 
2. 
Classification based on the subject matter i.e., product, consumer pricing, 
Distribution channels, promotion, sales force, competition, sales 
methods, internal operation of the firm and the external environment of 
the firm. 
There is a need for system in handling marketing information. 
A system is nothing but an integral procedure in which inputs are 
received processed and stored and the outputs are transmitted for absorption in 
the main stream. A system frame work alone can provide a set of procedures 
and methods for regular, planned, purposeful and systematic gathering, analysis, 
storage and retrieval of data. A system device is essential for processing the 
raw data into meaningful marketing information. 
M.I.S. is commonly used to denote Management Information System as 
well as Marketing Information System. We are using the abbreviation to denote 
the Marketing Information system. 
Marketing 
information 
system involves a three step process i.e., defining 
the information needs, organising the information, utilising the results of the 

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information. There are several steps involved in designing and developing an 
M.I.S. 
A good M.I.S. should fulfil certain requirements. The M.I.S. should not 
only be economical, user oriented and selective but also be a fast system. 
There are certain characteristics of Good Marketing Information. They 
are, Relevance, Clarity, Completeness, Confidentiality, Precision, Economy, 
Reliability, accuracy, timeliness, objectivity, authenticity and strategic value. 
The M.I.S. should turn out all the information that is needed by 
marketing decision makers. In the present times the M.I.S. in most companies 
is computerised, practically, any kind of information output/report that is 
needed for marketing decisions can be made available by the M.I.S. 
Marketing information system has four major components, they are, 
Internal Reports System, Marketing Intelligence System, Analytical Marketing 
System and the Marketing Research system. 
The output/reports emanating from the M.I.S. are usually classified into 
the four categories. They are, periodic reports (presented in predetermined 
formats at specified intervals of time), Triggered reports (reports on specific 
situations), Demand reports (the answers provided by the system to specific 
queries raised by marketing decision makers) plan reports (reports tailor – made 
for assisting the formulation of sales forcasts, sales plans, distribution plans, 
facilities plans and sales budgets. 
Marketing intelligence furnishes information on changes in market 
conditions, changes in customer requirements, emerging strategies of 
competitors and emerging opportunities in the business. If there is too much 
delay in the process, the marketing intelligence loses its significance. 
The new information technology consisting of computer and 
communication devices and also many other devices such as micro filming, 
copy machines, type recorders, teletype reports, closed circuit TV, video 
display, desk consoles, E-Mail and Video conferencing. 
The ideal sales information system should represent a compromise 
between what managers think they need, what managers really need and what is 
economically feasible. 

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An Analytical Marketing System consists of advanced techniques for 
analysing marketing data and problems. Such a system normally includes a 
statistical Bank and a model bank. 
Statistical Bank is a collection of statistical procedure, for extracting 
meaningful information from data. It includes normal statistical tools like 
averages, regression analysis, cross tabulation, discriminant analysis, factor 
analysis and cluster analysis. 
A model may be defined as set of variables and their inter relationships 
designed to represent a real system. Some models which have came to be used 
extensively by companies include, sales forecasting models, Transportation 
planning model, Media mix planning model. 
Models can be of two types – namely i) descriptive model ii) decision 
model. 
Descriptive models are designed to communicate, explain or predict.
These models can be built at three levels. They are i) Macro model ii) Micro 
Analytical model and iii) Micro-behavioural model. 
Decision models assist managers to circulate alternatives and find 
optimum solutions. 
Some other models are, i) verbal models and ii) Graphic models 
Marketing Research has been defined as the systematic design, 
collection, analysis and reporting of data and findings relevant to a particular 
marketing situation facing a company. 
Marketing research is systematic problem analysis, model building and 
fact finding for the purposes of important decision making and control in the 
marketing of goods and services. 
Data for a marketing research can be obtained from two sources. 
1. 
Primary: Where Data is collected by conducting a survey. 
2. 
Secondary : Which includes existing, published source of information. 
The job of marketing information system is to supply marketing 
information, problem analysis is the job of marketing research. Marketing 
research utilises marketing information but its purpose is problem solving. 

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Some major techniques of Marketing Research are, i) Market Survey,
ii) Multidimensional scaling technique (MDS), iii) Conjoint Analysis. 
Market survey is used if the required data is not available from the 
company’s internal records and from external published resources. It amounts 
to original field research work for the purpose of collecting primary data. 
Market survey is of two types – namely, i) census survey and, ii) 
sample survey. There are several steps involved in a market survey. 
Multidimensional scaling technique is used to graphically portray 
consumer evaluation of product/brands. It has been developed with inputs from 
mathematics and psychology. 
Conjoint Analysis is used to measure consumer preferences for alternate 
product ideas and product attributes combinations. It measures the joint effect 
of two or more independent variables or strategy options like price, package, 
colour brand name etc. on the ordering of a dependent variable, like the 
preference or purchase intention. 
Thus, each and every decision area of marketing needs the support of 
marketing information.