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Compose a 2000 words assignment on modern information needs in marketing. Needs to be plagiarism free!
Compose a 2000 words assignment on modern information needs in marketing. Needs to be plagiarism free! The successful product positioning and promotion is only possible if all the required information in this lieu is gathered and used in the right direction. In order to fulfill modern information needs, new information technologies have also been evolved. The information regarding the buyer preferences and behavior plays an important part in helping the management to take important decisions regarding the product such as pricing, promotion, competition, etc. It is important for the company to establish a system in order to acquire a large amount of information for marketing managers.
"Competitive companies study their managers' information needs and design marketing information systems (MIS) to meets these needs. 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.
To carry out their analysis, planning, implementation, and control responsibilities marketing managers need information about developments in the marketing environment. The role of the MIS is to assess the manager's information needs, develop the needed information, and distribute that information in a timely fashion, the information is developed through internal company records, marketing intelligence activities, marketing research, and marketing decision support analysis." (Kotler, 2000)
In the case of Dairy Products Limited, the MIS can play an important role in successfully marketing the new dessert which the company is planning to launch. An effective MIS will also help in enhancing the exposure level of the company from the local market to the national market. It is important for the company to design the MIS system in an effective manner. In most of the cases, the companies lack information sophistication.
