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Managing Marketing Information 4 The Importance of Information ? Companies need information about their: – Customer needs – Marketing environment – Competition ? Marketing managers do not need more information, they need better information. Information Overload “ In this oh so overwhelming information age, it’ s all too easy to be buried, burdened, and burned out by data overload.” The Marketing Information System The Marketing Research Process 1 2 3 4 Defining the Problem Objectives Developing the Research Plan ? Includes: – Determining the exact information needed – Developing a plan for gathering it efficiently – Presenting the written plan to management ? Outlines: – Sources of existing data – Specific research approaches – Contact methods – Sampling plans – Instruments for data collection Gathering Secondary Data ? Information that already exists somewhere – Internal databases – Commercial data services – Government sources ? Available more quickly and at a lower cost than primary data ? Must be relevant, accurate, current, and impartial Online Databases Dialog puts an incredible w