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CHAPTER 2: DATA SYSTEM MANAGEMENT IN MARKETING - Coggle Diagram
CHAPTER 2: DATA SYSTEM MANAGEMENT IN MARKETING
Definition
Big data to smart data
NonSQL
SQL
Marketing information system
A set of procedures and methods for the regular, planned collection, analysis and presentation of information for use in marketing decisions
Components of MKIS
Internal record system
Electronic collections of information obtained from data sources within the company
The heart of the internal record system is the order-to-payment cycle
Marketing intelligence
A set of procedures and sources managers use to obtain everyday information about developments in the marketing environment
Decision support system
Coordinated collection of data, systems, tools, and techniques with supporting software and hardware by which organizations gathers and interprets information from business & the environment and turns it into a basis for marketing action
Components of MDSS
Data bank
Methods bank
Model bank
Marketing research
The systematic design, collection, analysis and reporting of data and findings that are relevant to a specific marketing situation facing the company
Features of Marketing Research
Systematic
Problem-oriented
Objective
Decision making
Areas of MKT research
Product research
Advertising research
Consumer research
Sales research
Corporate research
Competitor research
Marketing research process
Define the problem and research objectives
Develop the research plan
Collect the information
Analyze the information
Present the findings
Types of marketing research
Descriptive research
Causal research
Predictive research
Exploratory research
Based on the type of data
Qualitative market research
Feelings, opinions, and thoughts of an individual to ascertain their underlying reasons for behavior
Purpose: study the psychology of an individual and obtain the insights and depth of buyer's perceptions, behavior, and needs
Quantitative market research
Deal with hard facts and statistical data rather than opinions, feelings, and attitudes of the individual
Purpose: what proportion of the population possess certain characteristics
Database Management Systems (DBMS)
Contain data collected from company operations
Data Classification
Characteristics of classification
Perform homogeneous grouping of data
Bring out points of similarity and dissimilarities
May be either real or imaginary
Flexible to accomodate adjustments
Objectives of classification
Condense data
Faciliate comparison
Point out the most important features
Present data in a brief form
Enable statistical treatment of the data collected
Make data attractive and effective
Methods of classification
Geographical
Chronological
Qualitative
Quantitative
Data Measurement
Variable
Numerical
Discrete
is measured as whole numbers
Continuous
Includes values with decimals
Categorical
Binary
Has only 2 values
Nominal
Consists of characteristics that have no meaningful order
Ordinal
Has fixed interval between data points
Data processing
A series of operations performed especially by a computer on a data to transform, classify and retrieve information
Data processing stages
Data gathering stage
Data collection stage
Input stage
Processing stage
Storage
Output stage