Marketing information, Marketing Management

Assignment Help:

Marketing information: to perform the complex task of marketing the marketer needs many pieces of information as a basis for drawing marketing decisions. Market information as a basis is of great importance to the management of firms. Market information includes all facts, estimates, opinions etc.considered in making decision which affects the marketing of goods. Market information is an important feature of marketing. In drawing and formulating policies and directing the marketingactivities a marketing executive must have adequate information about the firm and the market regarding the products of the firm. The ability of the marketing executive is vital for success in marketing operations. He must be able to evaluate the up to date information pertaining to:

  1. The customer's expectation regarding the product.
  2. The degree of competition to be faced.
  3. Government policies.
  4. Channel of distribution.
  5. Defects of rival products.
  6. Bying motives of the customers.
  7. Supply demand and price of similar products.
  8. Size of the market to be cover.
  9. Customer's opinion about the product size, shape, type etc.
  10. Satisfactory inflow of information.

The market information really helps a producer to retain create and expand the market for his products. Information is needed relating to current and future market for the products. A business man has to take decisions often. He can to take wise decisions to tackle the situations effectively only when he possesses the relevant information. For a company to operate successfully the management must develop an orderly method for gathering and analyzing the mass of information includes all facts, estimates, opinions etc. take into account in making decisions that effect the marketing of the goods and services.


Related Discussions:- Marketing information

Various tasks in product line appraisal, Q.       Describe various tasks i...

Q.       Describe various tasks in product line appraisal? Ans.:     Company objectives influence product line length. 1 objective is to make a product line to induce up sel

Explain about the online research phase, Explain about the online research ...

Explain about the online research phase. Online Research Phase: In the phase of online research, you should research your market. Who are your major competitors? What are

Characteristics of the sales promotion, Characteristics of the sales promot...

Characteristics of the sales promotion: 1.       Sales promotion does not include advertisement, personal selling and publicity. 2.       Sales promotion activities are

State the methods of price fixation, State the Methods of price fixation ...

State the Methods of price fixation Methods of fixing price can be broadly divided into the subsequent categories. 1. Cost based pricing 2. Competition based pricing 3

Explain soft system methodology with an example, Question 1: (a) How do...

Question 1: (a) How do you think that e-commerce is useful to Mauritian entrepreneurs? (b) Discuss the role of ICT and E-business in the development of Mauritian tourism ind

What is the drawback of marketing concept, What is the drawback of marketin...

What is the drawback of marketing concept? Marketing Concept: Drawback: This has led to many social and environmental ills as pollution, drug abuse etc.

Core concept marketing, what you mean by core concept marketing?and types

what you mean by core concept marketing?and types

Explain about the consumer movement in marketing activities, Explain about ...

Explain about the consumer movement in marketing activities. Consumer movement: Avarious collection of independent peoples, groups and organizations seeking to defend the

Define the concept of relationship marketing, Question 1: (a) Using an...

Question 1: (a) Using an example from the local context, explain how an organisation can counter negative publicity. (b) Discuss the impact that customer retention has on

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd