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

Brand personality, identifing brand personality in consumers mind

identifing brand personality in consumers mind

Marketing - introduction, Marketing Marketing involves the right produ...

Marketing Marketing involves the right product available in the right place at the accurate time and ensure that the customer is aware of the product. Marketing is necessar

Roles of peoples in the purchase decision procedure, What are the roles of ...

What are the roles of peoples who participating in the purchase decision procedure? The roles of peoples who participating in the purchase decision procedure is as follows:

MKT 421 Final Exam - 2014, download here http://helpfinalexams.com/exam/91...

download here http://helpfinalexams.com/exam/91/MKT-421-Final-Exam----2014

Major tools in the marketing communication mix, Richard Branson launched Vi...

Richard Branson launched Virgin Atlantic Airways to take on overpriced British Airways. The first Virgin flight, on June 22, 1984, took off loaded with celebrities and media. The

Value and satisfaction, Value and Satisfaction Customer value: it is t...

Value and Satisfaction Customer value: it is the difference between the values that the customer achieves from owning and by using a product and the costs of getting the produ

Inflation, Inflation The overall and general increment in price level f...

Inflation The overall and general increment in price level for goods and services in a particular economy. Inflation can be viewed by a raise in the general cost of living or a

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