Marketing concepts -- Chapter 3 summary

To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS). The role of the MIS is to assess the managers information needs, develop the needed information, and distribute the information in a timely manner.

An MIS has three components:

* an internal records system -- which includes information on
the order to payment cycle and sales reporting systems
* a marketing and intelligent system -- set of procedures and
sources used by managers to obtain everyday information about pertinent
developments in the marketing environment
* marketing research systems -- that allow for the systematic
design, collection, analysis, and reporting of data and findings relevant to a
specific marketing situation.

Within the rapidly changing global picture, marketers must
monitor six major environmental forces:

* demographic
* economic
* social/cultural
* natural
* technological
* political/legal

And the demographic environment, marketers must be aware of:

* worldwide population growth
* changing mixes of ages
* ethnic composition
* educational levels
* rise of nontraditional families
* large geographic shifts in population
* the steady increase in micro marketing

In the economic arena, marketers need to focus on income
distribution and levels of savings, debt, and credit availability.

And the social/cultural arena, marketers must understand
people's view of themselves, others, organizations, society, nature, and the
universe. In this market products that
correspond to society's core and secondary values, and address the needs of
different subcultures within a society.

In the natural environment, marketers need to be aware of
raw material shortages, increased energy costs and pollution levels, and the
changing role of governments and environmental protection.

In the technological arena, marketers should take account of
the accelerated pace of technological change, opportunities for innovation,
varying R&D budgets, and the increased governmental regulation brought
about by technological change.


And the political/legal environment, marketers must work
within many laws regulating business practices and with various special
interest groups.