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

Essay writing, Good Day, is there a possibility to buy full essay on digita...

Good Day, is there a possibility to buy full essay on digital marketing at workplace for 3000 words? Thank you in advance. Dorota

Test marketing, explain the various approaches that are followed by FMCG co...

explain the various approaches that are followed by FMCG companies in test marketing?

How is american marketing association refined research, How is American Mar...

How is American Marketing Association refined about the marketing research? Although, the American Marketing Association (AMA) redefined marketing research like a function that li

Concept of position against competition strategy, What is concept of Positi...

What is concept of Position against Competition Strategy? Position against Competition: Many more times, success for a company’s strategies comprises looking for weak po

How can the life of a product be conceptually analyses, Problem: After ...

Problem: After introducing a new product, management wants the product to enjoy a long and happy life. (a) How can the ‘life' of a product be conceptually analyses? (b) H

What are views of management philosophers about marketing, What are views o...

What are views of management philosophers about marketing? Many management philosophers consider marketing to be the most crucial function of a business. Into a business organi

.Henry Assael Model, .explain Henry Assael Model of buying decision behavio...

.explain Henry Assael Model of buying decision behaviour along with diagram.

Caselet, considering the concept of product life cycle, where would you put...

considering the concept of product life cycle, where would you put video games in their life cycle?

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