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

The idea of a variable pricing policy, Explain, with examples, the idea of ...

Explain, with examples, the idea of a variable pricing policy. Variable pricing includes adjusting prices to increase demand in off-peak periods in the hope of stimulating dema

Mutually beneficial relationship of marketing, How is marketing mutually cr...

How is marketing mutually created beneficial relationship? Mutually beneficial relationship of marketing: The customer is the focus onto whole marketing activities. But th

Define the term organizational buying behaviour, Define the term Organizati...

Define the term Organizational Buying Behaviour. An organization not connect only into selling of products, but they also engage within buying  of  products  also  as  material

Statistics, 10% of inhabitants of a town are known to be suffering from a d...

10% of inhabitants of a town are known to be suffering from a disease. find the probability that in a random sample of 12 people from the town a. none will suffer from the disease

International marketing logistics, difference between heavy lift surcharge ...

difference between heavy lift surcharge and long lift surcharge

Explain ethical aspect of advertising, Q. Explain Ethical Aspect of adverti...

Q. Explain Ethical Aspect of advertising? Ethics are ethical principles are values that govern the action of individual or group. It is a branch of social- science which assist

Marketing, what are advantages and disadvantages of five maketing philosoph...

what are advantages and disadvantages of five maketing philosophies

Suman, Discuss the Henry Assael model on buying decision behaviour.

Discuss the Henry Assael model on buying decision behaviour.

small - scale industry products, What pricing strategy would you suggest t...

What pricing strategy would you suggest to a small - Scale Industry Products

Major characteristics of a strong brand name, Question 1: (a) What are...

Question 1: (a) What are the major characteristics of a strong brand name? (b) What is the necessity for an organisation to make use of brand extension & flanker brand str

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