B Com Exam > B Com Videos > Marketing Management > Components - Marketing Information System, Marketing Management
Components - Marketing Information System, Marketing Management Video Lecture | Marketing Management - B Com
|
54 videos|51 docs|22 tests
|
FAQs on Components - Marketing Information System, Marketing Management Video Lecture - Marketing Management - B Com
| 1. What are the components of a Marketing Information System? |  |
Ans. The components of a Marketing Information System (MIS) include internal records, marketing research, marketing intelligence, and marketing decision support system. Internal records consist of data collected within the organization, such as sales reports and customer databases. Marketing research involves gathering data from external sources through surveys, observations, and experiments. Marketing intelligence refers to the continuous monitoring of the external environment to identify and interpret potential market trends and opportunities. Lastly, the marketing decision support system provides tools and software to analyze data and assist in making informed marketing decisions.
| 2. How does a Marketing Information System help in marketing management? | |
Ans. A Marketing Information System (MIS) helps in marketing management by providing timely and accurate information for decision-making. It helps marketers understand customer needs, preferences, and market trends. With the help of an MIS, marketing managers can analyze sales data, track customer behavior, and evaluate the effectiveness of marketing campaigns. It also enables them to identify potential market opportunities, monitor competitors, and allocate resources effectively. Overall, an MIS enhances the efficiency and effectiveness of marketing management by providing valuable insights and enabling data-driven decision-making.
| 3. What is the role of marketing research in a Marketing Information System? | |
Ans. Marketing research plays a crucial role in a Marketing Information System (MIS) as it provides valuable data and insights about customers, competitors, and the market. It helps in identifying customer needs, preferences, and buying behavior, which assists in developing effective marketing strategies. Marketing research also helps in evaluating the success of marketing campaigns and identifying areas for improvement. By collecting data through surveys, interviews, and observations, it provides a deeper understanding of market trends, competitive landscape, and customer satisfaction. The information obtained through marketing research forms the foundation of an MIS and supports marketing decision-making.
| 4. How does a marketing decision support system assist marketers? | |
Ans. A marketing decision support system (MDSS) assists marketers by providing tools and software to analyze data, generate reports, and make informed marketing decisions. It enhances the decision-making process by organizing and presenting data in a meaningful way. With the help of an MDSS, marketers can perform various analyses, such as market segmentation, customer profiling, and sales forecasting. It also enables them to track the performance of marketing campaigns, evaluate return on investment (ROI), and optimize resource allocation. The insights generated by an MDSS help marketers make data-driven decisions, reduce risks, and improve marketing effectiveness.
| 5. How can marketing intelligence benefit a company's marketing strategy? | |
Ans. Marketing intelligence plays a crucial role in shaping a company's marketing strategy. By continuously monitoring the external environment, it helps in identifying market trends, competitor activities, and customer preferences. This information enables companies to stay ahead of the competition, adapt to changing market dynamics, and satisfy customer needs effectively. Marketing intelligence also provides insights into emerging markets, new product opportunities, and potential threats. By analyzing and interpreting market intelligence, companies can make informed decisions regarding product development, pricing, promotion, and distribution. Overall, marketing intelligence enhances a company's marketing strategy by providing valuable insights and supporting strategic decision-making.
Related Exams
About this Video
|
4.60/5 Rating |
|
Dec 19, 2024 Last updated |
Video Description: Components - Marketing Information System, Marketing Management for B Com 2024 is part of Marketing Management preparation.
The notes and questions for Components - Marketing Information System, Marketing Management have been prepared according to the B Com exam syllabus.
Information about Components - Marketing Information System, Marketing Management covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Components - Marketing Information System, Marketing Management.
Introduction of Components - Marketing Information System, Marketing Management in English is available as part of our Marketing Management for B Com & Components - Marketing Information System, Marketing Management in
Hindi for Marketing Management course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Components - Marketing Information System, Marketing Management Video Lecture | Marketing Management - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Marketing Management.
Information about Components - Marketing Information System, Marketing Management
Here you can find the meaning of Components - Marketing Information System, Marketing Management defined & explained in the simplest way possible.
Besides explaining types of Components - Marketing Information System, Marketing Management theory, EduRev gives you an ample number of questions to practice Components - Marketing Information System, Marketing Management tests,
examples and also practice B Com tests.
|
54 videos|51 docs|22 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Sample Paper
,Marketing Management Video Lecture | Marketing Management - B Com
,video lectures
,Marketing Management Video Lecture | Marketing Management - B Com
,Semester Notes
,Components - Marketing Information System
,MCQs
,practice quizzes
,Free
,Viva Questions
,Important questions
,Extra Questions
,Exam
,Marketing Management Video Lecture | Marketing Management - B Com
,study material
,Objective type Questions
,Summary
,past year papers
,Components - Marketing Information System
,Components - Marketing Information System
,mock tests for examination
,Previous Year Questions with Solutions
,ppt
,shortcuts and tricks
;
Study Components - Marketing Information System, Marketing Management on the App
Students of B Com can study Components - Marketing Information System, Marketing Management alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Components - Marketing Information System, Marketing Management,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Components - Marketing Information System, Marketing Management is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup