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Marketing: process of all activities necessary for the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives
Marketing Concept: the business philosophy that holds the key to achieving organizational goals consists of determining the needs & wants of target markets and delivering the desired satisfactions more effectively & efficiently than competitors
Marketing Strategy: consists of selecting a segment of the market as the company¶s target market and designing the proper ³mix´ of the ³4Ps´
Wha
ma e
g e ea h?
M ng s h is th p o ss o d signing, gath ing, analyzing, and reporting in ormation that may be used to solve a specific marketing problem. (Burns & Bush)
«is the function that links the consumer, customer, and public to the marketer through information²information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process. (AMA)
Online re earch: the use of computer networks, including the Internet, to assist in any phase of the marketing research process including development of the problem, research design, data gathering, analysis, and report writing and distribution
Web-ba ed re earch: research that is conducted on Web applications; may use traditional methods as well as on-line research methods in conducting research on Web-based applications Online urvey re earch: collection of data using computer networks
Marketing Information Sy tem (MIS): a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers19
Components of an MIS
Internal Reports System Marketing Intelligence System Decision Support System Marketing Research System«this system provides information not available through the other systems. When a specific problem must be solved, marketing research is often needed. It is also ³project-based´ and is not continuous as are the other systems.