Marketing Information System (MIS)
What does a Marketing Information System (MIS) do for businesses?
It collects, analyzes, and provides information to help make better marketing decisions
What is the main difference between marketing intelligence and marketing research?
What is the main difference between marketing intelligence and marketing research?
What does “macroenvironment” mean in business?
External forces outside the business that affect operations but cannot be controlled
New markets opening for your product is an example of?
Opportunity
If the government increases the minimum wage, which macroenvironmental force affects businesses?
Political Forces
What are the four components of an MIS?
Internal Records, Marketing Intelligence, Marketing Research, Marketing Decision Support System (MDSS)
Name one way businesses gather marketing research data.
Surveys, interviews, focus groups, testing, polls
Which macro force includes laws, taxes, and government policies?
Political Forces
A new competitor entering the market is an example of?
Threat
A local café notices people spending less due to job losses. Which macroenvironmental force is this?
Economic Forces
Which MIS component involves records like sales invoices, receipts, and inventory reports?
Internal Records
What is the first step in conducting marketing research?
Situation Analysis
If inflation is high and people buy less, which macroenvironmental force is at play?
Economic Forces
More people using the internet to shop is an?
Opportunity
A clothing brand shifts to eco-friendly fabrics because customers demand sustainability. Which force is this?
Ecological Forces
What MIS component is like a “thinking partner” that helps businesses analyze data and make decisions?
Marketing Decision Support System (MDSS)
What does marketing intelligence usually include? Name at least two.
Competitor updates, customer opinions, trends, news
If people shift toward eco-friendly products, which force is this?
Ecological Forces
Higher taxes for businesses are a?
Threat
A company launches a new app to sell products directly to customers. Which macroenvironmental force enabled this?
Technological Forces
Give one example of a tool used in a Decision Support System.
Excel/Google Sheets, dashboards, forecasting models, or data analysis software
Why is marketing research important for businesses?
To solve problems & understand customers better
A city with many young people is more likely to demand gadgets and coffee shops. Which force explains this?
Demographic Forces
Give one example of an opportunity that technology creates.
Online shopping, digital marketing, mobile banking
A toy company studies children’s preferences through focus groups before launching a new product. Which MIS component is used?
Marketing Research