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PROJECT TOPIC: THE IMPORTANCE OF MARKETING INFORMATION SYSTEM IN NEW PRODUCT DEVELOPMENT

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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY.

Information and reliable data from the bedrock of any management decision they also from the basis for all the diagnostic and effort of managers from marketing stand point problem can only be anticipated identified analyze and resolved or prevented if accurate and reliable information can be obtained from both reveal and external source.

This overdoing importance  of marketing information is  so obvious that every trained marketing manager make deliberate efforts  of generate analyze and use reliable marketing related  information marketing  research and marketing information system are concerned with information gathering.

According to the American marketing association (Ama) marketing research is the systematic gathering recording and analysis of data about problem relating to the marketing of good and service . A major weakness of this definition is that it implicitly ignores that fact not only marketing research analyze and solve problem that the identify them. It has  been critiesize for not being clear on the goods of marketing .

A short but acceptable definition sees marketing research as a ferulze decision.

Taken together these two definitions which reveal the nature and scope of marketing research .

Firstly, the show that the purpose of market research is to aid in marketing decision it may help to denitrify  marketing problems and opportunities available course of a action in resolving the matter.

Secondly, it is a formulized to systematic means of obtaining the needed information thus deliberate and organized it is systematic in the sense of following a defined and three tested procedure.

Thirdly following closely from the second observation is the  fact that marketing research is seeks observation objectively, in so doing the marketing research process aim at being scientific in the sense of finding out what is although the information is expected among other thing to help determine what should be.

Finally, since it is an aid to marketing decision of the following planning, pricing, product, media selection effectiveness competition, factor

In focusing on any other marketing related issues marketing research may help in problem identification  as well as the choice among alternative solution for the problem

A marketing information system (MIS) is a continuing and interacting structure of people equipment and procedures together sort, analyzed evaluate and distribute non recurrent basis, a marketing information system . Accurate information for the use by marketing managers to improve their marketing planning implementation and control

When compared with the definition of marketing research given earlier the difference becomes obvious.

First where as marketing research gather and analysis needed information adhoe non recurrent basis a marketing information system is installed to do this on a regular basis.

Fro any marketing organization to succeed it needs a require supply of current and relevant information for marketing. In order to be useful such information must be regular timely, relevant and accurate.

The operative of marketing innovating system involved huge financial outlay. There fore a cost benefit analysis is relevant innovation requested by decision  makers it is necessary  to ensure that they are likely to help improve the quality of decision made  that the  cost dons not exceed the  benefit of the information  although the  benefit would certainly be related to.

  1. The ability of the information to reduce uncertainty
  2. The magnate of uncertainty in the decision striation
  3. The magnitude of the economic result of the decision.

In designing a marketing information system due regard must be paid to the information requirement on sale cost target market consumer behaviour, these information area are all important in the development of new product

This is so , because for new product or innovation to succeed, it most  meet the news and requirement of consumer in terms of quality afford-ability reach ability and taste preference of consumer only deviation on the part of the new product innovation will small doom for the company. this point under scores the importance of marketing information system which ensure steady flow for relevant information for decision makes,  very organization especially for marketing purpose


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