Marketing Intelligence Systems Essay Example | Topics and Well Written Essays - 1000 words

Marketing Intelligence Systems - Essay ExampleSome of the topics that are going to be cover in the MIS presentation includeThe value and quality of a market intelligence system depends on the input data the system receives. A five-step routine that backside help improve the quality of a marketing intelligence system is 1) Train and motivate the gross revenue force to spot and report vernal developments 2) Motivate, retailers, intermediaries, and distributors to pass information along 3) Collect intelligence by purchasing competitors harvest-homes 4) Create advisory panel composed of important stakeholders 5) bribe information from outside suppliers such as A.C. Nielsen Corporation (Kotler, 2002).The five step quality control process improves marketing intelligence systems to make them more valuable. When the sales force acts as intelligence gatherers they must be trained to recognize the type of information that is useful for managerial purposes. Obtaining product samples from the competition is useful to comparison in terms of quality, value, and packaging presentation. Customer advisory panels provide valuable information concerning customer needs. External research firms are able to provide marketing information at a lower cost than what most companies can produce in-house.There are many benefits associated with the implementation of a MIS. The use of an MIS can assist a manager in the sales forecasting process. The system can be used by a start-up company to determine the optimal target markets to penetrate. An MIS system allows a company to monitor behavioral changes in consumer buying patterns. This type of information is useful to adapt the companys product offering. For example a company in the food industry could utilize data concerning the tendency of a marketplace to consume salty foods to determine the chances its refreshing potato chips brand have to succeed in a region. Marketing intelligence systems can be