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Data collection or data gathering is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes. Data collection is a research component in all study fields, including physical and social sciences, humanities, [2] and business ...
Data collection systems are an end-product of software development. Identifying and categorizing software or a software sub-system as having aspects of, or as actually being a "Data collection system" is very important. This categorization allows encyclopedic knowledge to be gathered and applied in the design and implementation of future systems.
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
Organized Data collection – MkIS can help the managers to organize loads of data collected from the market, thus results in an increment in the productivity. A broad perspective – With a proper MkIS in place, the organization can be tracked which can be used to analyze independent processes. This helps in establishing a broader perspective ...
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
As mentioned above, the width of product mix is referred to as the total number of product lines that the company offers. A diversified product mix can target the maximum number of customers, however, such numbers of product lines requires much attention and focus as each product line targets different groups of consumers and involves individual strategy and management.
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Relative product quality correlates positively (explains approx. 10 %): Important reasons for the positive correlation are above all higher achievable prices for premium products, but also the higher willingness of consumers to buy high-quality services, so that the sales volume increases and thus positively influences the market share (see above).