Topic 3: Collecting Information, Forecasting Demand and Conducting Market Research

Overview

Topic 3 discusses about collecting information, forecasting demand and conducting market research. Every firm must organize and distribute a continuous flow of information to its marketing managers. A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyse, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. It relies on internal company records, marketing intelligence activities, and marketing research.

Learning Outcomes

By the end of this topic, you should be able to:

• Explain the components of marketing information system
• Identify the useful internal records for marketing information system
• Establish a marketing intelligence system