Alexis Best

03/17/2016
1B

1. Data are facts and figures. Information is facts and data presented in a
useful form. For data to become information, it must be processed,
organized, and presented in an understandable, meaningful manner.
2. Marketing information is marketing data available from inside and outside
a business that have been processed and organized in a useful way
3. Businesses need marketing information to make educated decisions,
solve problems efficiently and plan for the future.
4. Primary data is: developed from data thats collected for use in one
particular situation. Secondary Data is data that has already been collected
from other purposes.
5. Some characteristics of useful marketing information are: organized,
accurate, sufficient, relevant, timely, accessible, and cost-effective.
6. Data Gathering- gathered from both internal and externa; sources on an
ongoing basis. Data Processing- analyzing the data collected and putting
them into formats useful to a business are important of the MkIS.
Information Reporting- DISTRIBUTING ALL THE NECESSARY INFO TO
THOSE WHO NEED IT.
7. The 5 common requirements of an MkIS are: quickly deciding what data
and info are needed, collect, process and store data and info effectively,
handle whatever amount of data & info a particular business needs, protect
the data & info, and operate continuously.

1. Marketing info management can benefit marketers by collecting and

presenting marketing info in an organized fashion, giving a broader
perspective of the market, providing info that may help to prevent a business
crisis and helping marketers to improve their planning.
2. MkIS is used in business decisions by: providing relevant, accurate, and
timely info. Market Opportunities- helping businesses discover new or
expanded markets that can be tapped. Sales Forecast- what sales data can
be used to prepare for, and also help to set up marketing budget, planning
products, and determining the product mix. Promotional Strategies- MkIS
evaluates the effectiveness. Sitution Analysis- providing internal and
external information, it determines a firms current business situation and
direction in which business is headed. Profitability- comparing financial data

Alexis Best
03/17/2016
1B

from 1 time period to another and pictures business profits. Risk ReductionMkIS helps control and/or reducing risks. Competition- MkIS gather and
analyze data such as improvements planned for competitors products,