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THE IMPORTANCE OF MARKETING INFORMATION SYSTEM IN NEW PRODUCT DEVELOPMENT

THE IMPORTANCE OF MARKETING INFORMATION SYSTEM IN NEW PRODUCT DEVELOPMENT

ABSTRACT

In  marketing, customers/ consumers are the main subject. Marketing information system is that which firms used to identify their customer’s needs and go satisfy them profitably.  This research work made to understanding the extent at which information system have helped in  solving the problems  of customers more especially Berger paint plc customers . Hence it is found out that effective marketing increase the satisfaction of customers need. Therefore firms in the industry should ensure that effective marketing information system is used for proper customers problem identification solving and satisfaction. Since marketing information system is unavailable firms in the manufacturing section should adopt t is  improve that service and  customer patronage.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY.

Information and reliable data from the bedrock of any management decision they also from the basis for all the diagnostic and effort of managers from marketing stand point problem can only be anticipated identified analyze and resolved or prevented if accurate and reliable information can be obtained from both reveal and external source.

This overdoing importance  of marketing information is  so obvious that every trained marketing manager make deliberate efforts  of generate analyze and use reliable marketing related  information marketing  research and marketing information system are concerned with information gathering.

According to the American marketing association (Ama) marketing research is the systematic gathering recording and analysis of data about problem relating to the marketing of good and service . A major weakness of this definition is that it implicitly ignores that fact not only marketing research analyze and solve problem that the identify them. It has  been critiesize for not being clear on the goods of marketing .

A short but acceptable definition sees marketing research as a ferulze decision.

Taken together these two definitions which reveal the nature and scope of marketing research .

Firstly, the show that the purpose of market research is to aid in marketing decision it may help to denitrify  marketing problems and opportunities available course of a action in resolving the matter.

Secondly, it is a formulized to systematic means of obtaining the needed information thus deliberate and organized it is systematic in the sense of following a defined and three tested procedure.

Thirdly following closely from the second observation is the  fact that marketing research is seeks observation objectively, in so doing the marketing research process aim at being scientific in the sense of finding out what is although the information is expected among other thing to help determine what should be.

Finally, since it is an aid to marketing decision of the following planning, pricing, product, media selection effectiveness competition, factor

In focusing on any other marketing related issues marketing research may help in problem identification  as well as the choice among alternative solution for the problem

A marketing information system (MIS) is a continuing and interacting structure of people equipment and procedures together sort, analyzed evaluate and distribute non recurrent basis, a marketing information system . Accurate information for the use by marketing managers to improve their marketing planning implementation and control

When compared with the definition of marketing research given earlier the difference becomes obvious.

First where as marketing research gather and analysis needed information adhoe non recurrent basis a marketing information system is installed to do this on a regular basis.

Fro any marketing organization to succeed it needs a require supply of current and relevant information for marketing. In order to be useful such information must be regular timely, relevant and accurate.

The operative of marketing innovating system involved huge financial outlay. There fore a cost benefit analysis is relevant innovation requested by decision  makers it is necessary  to ensure that they are likely to help improve the quality of decision made  that the  cost dons not exceed the  benefit of the information  although the  benefit would certainly be related to.

  1. The ability of the information to reduce uncertainty
  2. The magnate of uncertainty in the decision striation
  3. The magnitude of the economic result of the decision.

In designing a marketing information system due regard must be paid to the information requirement on sale cost target market consumer behaviour, these information area are all important in the development of new product

This is so , because for new product or innovation to succeed, it most  meet the news and requirement of consumer in terms of quality affordability reach ability and taste preference of consumer only deviation on the part of the new product innovation will small doom for the company. this point under scores the importance of marketing information system which ensure steady flow for relevant information for decision makes,  very organization especially for marketing purpose.

1.2 STATEMENT OF THE PROBLEM

It has often been said that new product suddenly success in the market. this is not for from the truth however many new product that meet the demand of the customers cannot in any way fail further more those   that paid do so die to their inability meet the needs of consumers by so doing they come face to face with total rejecter thereby leading to  their failure.

The  importance of relevance information cannot be over emplohazied because it has been said by authorities  that information is the life blood of every marketing organization ,without information the marketer cannot ascertain the decision as well as the heart of their customer whom they are meet to satisfy and so they fail.

The only way of generating relevant information and ensuring that it get to marks foe use is through the marketing information like towns that cannot be separated unfortunately however must organization take them for granted either due to total lack of knowledge of the essence of the marketing concept or due to the enormous expenditure involves in gathering information this invariably affects the quality of their decision and the ability of their new product to meet consumer demand.

The essence of this work therefore is to examine the importance system on new product development and planning.

1.3 OBJECTIVES OF THE STUDY

The aim of this study is to examine the application of marketing information system in new product planning and development especially the study intends to achieve the following:

  1. To determine if Berger paint have a market unit
  2. To determine the status of marketing information system/ marketing research in Berger paint.
  3. to determine if the firm has resources to marketing
  4. to determine the essence of marketing information system  in generating data for new product planning and development

THE IMPORTANCE OF MARKETING INFORMATION SYSTEM IN NEW PRODUCT DEVELOPMENT

1.4 RESEARCH QUESTIONS         

 The research has the main taste of finding out the following

  1. Do Berger paint have a marketing information unit
  2. what is the status of marketing information system marketing research is Berger paints
  3. Do the firm have resource  to marketing information  system .

1.5 SIGNIFICANCE OF THE STUDY

  1. Null (Ho) there is no significant relationship between marketing information system and new product development and planning.
  2. alternative (H1) there is a significant relationship between marketing information system and new product development and planning.
  3. Ho: marketing information system and new product

1.6 SCOPE OF THE STUDY

Berger paint plc  is one of the firms in the oil geopolitics market  of paints industry in Nigeria it has the following clover paint plc Aka paint plc select paint and best paint as it major rivals the choice  of degree paint plc as the case  study of this research was informed by difficulties met of this research in the same industry within it firm the personal in the marketing department were interviewed in extending the work equally consumer of Berger paint   resident in Aba areas were used, It has to be so, because  the product is a national brand and  the researcher could  not cover the whole national hence Aba areas was picked as a good representative of all the market.

1.7 LIMITATION OF THE STUDY

In carrying  out this  research the research was  faced with so many problem which hampered the researcher efforts to some extent.

There was the problem of insufficient fund and limited time of further research from this there is won for further research from this point  by any one  who would wish to continent from this  point.

During the administration of the questionnaire there was a problem  or relevance on the part of staff to responder to questions of the questionnaires , it tool  time before  they could  be convenicance to do so there was problems of refused of disclosed some information requital from them.

1.8 DEFINITION OF TERMS

Here are the technical and professional term that paper in this research work and their contextual meaning

  1. Marketing information system :  is the structured interacting complex of persons machine and producers designed to generate in order flow of pertinent information collected firm internal and external firm sources for use as the basis for decision making
  1. marketing : is the process of obtaining or exchange of goods and services between two  or more people through exchange process at a profit oriented
  2. marketing research: is a systematic collection  of data and its  analysis to get some facts that will help his solving or exiting marketing problem

NEW product is any  that is newly introduced to market or modification of in existing product

THE IMPORTANCE OF MARKETING INFORMATION SYSTEM IN NEW PRODUCT DEVELOPMENT

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