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A marketing information system (MIS) is a management information system (MIS) designed to support marketing decision making. Jobber (2007) defines it as a "system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis." In addition, the online ...
The system is used to help businesses explore different scenarios by manipulating already collected data from past events. It consists of information technology, marketing data, systems tools, and modeling capabilities that enable it to provide predicted outcomes from different scenarios and marketing strategies.
More broadly, marketing managers work to design and improve the effectiveness of core marketing processes, such as new product development, brand management, marketing communications, and pricing. Marketers may employ the tools of business process re-engineering to ensure these processes are properly designed, and use a variety of process ...
Brand management uses an array of marketing tools and techniques in order to increase the perceived value of a product (see: Brand equity). Based on the aims of the established marketing strategy, brand management enables the price of products to grow and builds loyal customers through positive associations and images or a strong awareness of ...
The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [2] Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. [3]
A customer data platform (CDP) is a computer system used by marketing departments that assembles data about individual people from various sources into one database, with which other software systems can interact. [26] As of February 2017, about twenty companies were selling such systems and revenue for them was around US$300 million. [26]
The extended marketing mix is used in the marketing of services, ideas and customer experiences and typically refers to a model of 7 Ps and includes the original 4 Ps plus process, physical evidence and people. Some texts use a model of 8 Ps and include performance level (service quality) as an 8th P.
Database marketing emphasizes the use of statistical techniques to develop models of customer behavior, which are then used to select customers for communications. As a consequence, database marketers also tend to be heavy users of data warehouses , because having a greater amount of data about customers increases the likelihood that a more ...