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    CH 4 - MR and MIS - Dr. Mayada A. H. Mostafa

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    CH 4 - MR and MIS - Dr. Mayada A. H. Mostafa

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    Ch 4 - MR and MIS - Dr. Mayada A. H. Mostafa

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    1 views7 pages

    CH 4 - MR and MIS - Dr. Mayada A. H. Mostafa

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    of 7

    Chapter 4: The Marketing Research Process and Its Role in Marketing

    Information Systems
    This chapter provides a comprehensive understanding of how marketing research
    systematically contributes to the Marketing Information System and aids in
    informed decision-making by highlighting the following points:

    Table of contents:
    1. Overview of Marketing Research in Marketing Information Systems (MIS)
    • Definition of Marketing Research
    • Role of Marketing Research in MIS
    2. Overlap with the Reporting and Presentation phase in Marketing Research
    3. Marketing Research Findings as an Input for MIS
    4. Case Study Examples: Real-World Applications
    5. MI, MR, Internal Data – The Interaction Dynamic
    6. Decision Support Systems (DSS)
    1. Overview of Marketing Research in Marketing Information Systems
    (MIS)

    Marketing Research: This is a structured process of collecting, analyzing, and


    interpreting data about markets, customer needs, preferences, and purchasing
    behaviors. Marketing research provides insights necessary for making informed
    marketing decisions.
    A. Role of Marketing Research in MIS:
    In MIS, marketing research serves as a critical source of data that complements
    internal data (e.g., sales records) and marketing intelligence (e.g., competitor
    analysis).
    Together, these components build a complete picture of the market landscape,
    helping businesses develop and execute strategies that align with customer needs
    and organizational goals.

    2. Stages of the Marketing Research Process

    Reporting and Presentation are the final stages of the MR process and the
    beginning of the MIS function as inputs.
    • Translating research findings into information that can serve as the basis for
    actionable recommendations for stakeholders and decision-makers.
    • This step of MR summarizes key findings in a clear, concise format.
    • Uses data visualization (charts, graphs) to illustrate important points.
    • Makes recommendations based on research insights to guide decisions.

    Example: After analyzing customer feedback, a report might recommend specific


    improvements in product features that align with customer preferences. MIS
    enables the selection of the right action items for improvement, based on the full
    set of provided info.

    3. Marketing Research outcomes are Inputs for MIS


    Problem Definition in Decision-Making:
    A clearly defined research problem is aligned with business objectives, making it
    easier to integrate findings into MIS. Well-defined objectives help avoid irrelevant
    data and focus resources efficiently.

    Data Collection and MIS Integration among data sources:


    Putting the Puzzle Pieces Together
    Marketing Research cultivates data that complements internal (e.g., sales data)
    and external data sources (e.g., competitor analysis). MIS consolidates this
    information, giving organizations a full data picture that serves as the basis for
    decision-making.

    Data Analysis and Decision-Making:


    Data from research can be directly fed into MIS analytics. For example,
    understanding customer preferences allows MIS to update customer profiles or
    refine predictive models of consumer behavior.
    Feedback Loop:
    Research insights are stored in MIS and can be updated as new information is
    gathered. This feedback mechanism ensures MIS is always up to date with
    emerging customer needs and reflects current trends and market conditions.

    4. Case Study Examples:


    Real-World Applications on Business Scenarios

    1. Product Launch Scenario:


    A tech company wants to launch a new product. How can they do so with the help
    of marketing research?

    ➢ Through marketing research, they analyze customer needs and


    expectations.
    How does this serve as a component for a comprehensive Marketing information
    system and what other items can it be paired with for information creation and
    usage.

    ➢ MIS combines this with internal data on sales trends and external data on
    competitor products, creating a well-rounded strategy for the launch.

    2. Customer Satisfaction Analysis Scenario:


    If a retail company wants to learn more about customer experiences, how can it
    obtain primary data on this matter?
    ➢ Conducting satisfaction surveys
    How does this serve as a component for a comprehensive Marketing information
    system and what other items can it be paired with for information creation and
    usage.
    ➢ MIS stores this data alongside sales figures and customer demographics,
    enabling the company to identify specific areas for improvement and
    monitor trends over time.

    5. How are MR, MI & Internal Data integrated under MIS In Practice?
    An apparel brand may:
    • Use marketing intelligence to identify an increased interest in eco-friendly
    clothing.
    • Analyze internal sales data to see if existing eco-friendly lines are
    performing well.
    • Conduct market research to explore what eco-friendly product features
    matter most to customers, informing the launch of a new sustainable line.

    6. Decision Support Systems (DSS):


    • Definition: Computerized systems that analyze large sets of data to aid
    decision-making.
    • Explanation: DSS uses algorithms, machine learning, or simulations to turn
    raw data into actionable insights.
    • Example: A DSS might analyze seasonal sales data, helping a company
    predict demand for the upcoming season and adjust inventory accordingly.
    • CRM – customer relationship management systems are a perfect example
    of Decision Support Systems. The following are the top trending CRM
    systems of 2024:
    1. Salesforce: Renowned for its extensive feature set, Salesforce is ideal for mid-
    sized to large organizations requiring advanced analytics and customization
    options.
    A company using Salesforce can automatically segment its customer base based
    on demographics, past purchases, and engagement history. Marketing teams can
    then create personalized campaigns targeting each segment.
    MIS: AI is used to automate segmentation and track campaign responses, aiding in
    decision-making and showing the integration of big data and machine learning.

    2. HubSpot CRM: This user-friendly platform offers marketing automation tools


    and a robust free tier, making it suitable for small to medium-sized businesses.
    E-commerce platforms use HubSpot to manage leads, scoring each one based on
    interactions such as email clicks, site visits, and past purchases. Leads with high
    scores are prioritized, and personalized follow-ups are automatically sent to them.
    MIS Relevance: Lead scoring showcases how CRM data aids in identifying the most
    promising leads, which allows students to see how CRM tools support efficiency in
    marketing efforts and enhance ROI analysis.

    3. Zoho CRM: Highly customizable and affordable, Zoho is versatile for businesses
    of all sizes, particularly those looking for advanced analytics and automation
    features.
    A retail business using Zoho CRM can engage customers across email, social
    media, live chat, and phone support, all from a single dashboard. This way,
    interactions are consistent and trackable, regardless of the channel.
    This example demonstrates the importance of multi-channel engagement and
    how CRMs like Zoho collect and centralize data from various sources for an
    enriched view of the customer journey, and how to capture and use information
    effectively at each step.
    4. Microsoft Dynamics 365: Known for its integration with Microsoft products, it
    provides powerful business intelligence tools and is ideal for organizations already
    using Microsoft solutions.
    Financial service companies, for example, use Microsoft Dynamics to analyze
    customer data, providing insights like customer sentiment, purchasing intent, and
    product preferences using AI tools.
    MIS Relevance: This illustrates how AI integrated within CRMs aids in predictive
    analytics, offering actionable insights for future marketing strategies and
    optimizing the role of AI in enhancing customer experience.

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