Marketing Information System.
Q1. Define Marketing?
It is the process that aims at:-
* Identification of customer requirements.
* It commits to produce sales.
* It is responsible for financial growth of the business.
Q2. Why we required marketing information system?
Marketing information system are required to assists the management in decision making about the:-
* Pricing the product.
* Packaging.
* New product development.
* Advertising.
* Product promotion policy.
* Sales strategy.
* Inventory control.
Q3. What are the different components of marketing information system?
* Basically there are four main components of marketing information system:-
1. Interactive Management.
2. Sales force automation.
3. Advertising and Promotion.
4. Market research and forecasting.
Q4. Define interactive marketing?
* Interactive marketing is a type of marketing i.e. based on using:-
1. Internet.
2. Extranet.
3. Intranet.
* To establish two way interaction between business and its customers.
* Goal of interactive marketing is to attract and keep customers who will become partners with the business in creating, purchasing and improving products and services.
Q5. Define sales force automation?
* Sales force is being outfitted with notebook customers, web browsers and software that connect them to internet, extranet and intranet.
* Sales force automation increase:-
1. Productivity of sales force.
2. Power to capture and analysis of sales data from field to management of marketing at company headquarters.
* It increases both sales productivity and marketing responsiveness.
Q6. What are the different benefits of sales force automation?
* Shorter the sales process.
* Increase revenue.
* Customer information directly captured into a sales database.
* Enhance order management by accessing data on pricing, availability, export regulation etc.
Q7. Define Sales and product management?
* Computer bases system produce sales analysis reports.
* These reports help marketing managers who monitors performance of sales people and products.
* Marketing managers develop sales support program to improve sales results.
* Product managers need information to plan and control the performances of specific product.
* Information for existing products and new product development.
Q8. Define targeted marketing?
* It is an advertising and promotion management concept that include following components:-
1. Community: - To appeal to people in specific communities.
2. Content: - a) Banners.
b) Advertisement for a mouse on the opening page of an internal search engine.
3. Context: - Targeted only at the people who are already looking for information about a subject matter that is related to a company’s product.
Q9. Define market research and forecasting?
* Helps managers to make better forecasting and develop more effective marketing plans.
* Help researchers to collect analysis and maintain information on customers, consumers, competitions.
* Data can be gathered from many sources companies database, internet etc.
* Varieties of statistical software tools are used.
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