Vocabulary
Types of MIM
MIM System
Situations w/ MIM
Misc.
100
Information gathered from talking with the customer.
What is marketing information?
100
opinion research = feelings
What is Attitude Research?
100
Happier customers Less threat from competitors Higher profits (in the long-run)
What are benefits of a marketing-information management system?
100
This provides information about current sales.
What is sales forecast?
100
helps organize information, provide information about a business, and helps marketers improve planning.
What are benefits of marketing-information management systems?
200
Method for collecting and analyzing/interpreting data.
What is a Marketing-Information Management System?
200
info related to marketing a good/service
What is Market Research?
200
Collection of accurate data Effective analysis Relevant
What are requirements of a marketing-information management system?
200
Comparing financial data over time to provide a picture of business's profit.
What is profitability?
200
marketing-information management's acronym
What is MIM?
300
Information the company collects directly from its own surveys – first time collected; expensive.
What is primary information?
300
product design, packaging, usage
What is Product Research?
300
can include research but also is responsible for assisting with making decisions
What is MIM system?
300
Gathering and analyzing data of competitor's products.
What is competition?
300
can be formal or informal
What is marketing research?
400
Information the company collects from other sources (libraries, online, Federal publications, etc.) – desk research – already exists.
What is secondary information?
400
predict economic future
What is Economic Forecasting?
400
Helps the company better understand its current and potential customers
What is the role of marketing-information management in marketing?
400
Helps business discover new or expanded markets that can be tapped.
What is business decision?
400
information found in libraries, online, and in Federal publications
What are secondary resources?
500
Methodology for discovering the customer’s wants and needs – links consumer, customer and public to marketer.
What is Marketing Research?
500
media selection & frequency (media mix)
What is Media Research?
500
Significant investment of time and money
What is a limitation of marketing-information management systems?
500
Determines a firm's current business situation and the direction in which the business is headed.
What is situation analysis?
500
July
What month is Mr. Brauns getting married?
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