Marketing Management

SUMMARY: Marketing research is the careful analysis of a business situation by scientifically analyzing it and using various statistical applications to the subject of study. The marketing research process consists of five steps: defining the problem and formulating the objectives of the research, effective research plan development, collection of data, evaluation of the information collected, and formulation of the research report. The data is collected by applying different methods like mailers, personal interviews, and telephonic interviews.

A marketing information system helps companies provide crucial marketing information to managers using internal record systems, marketing intelligence systems, marketing decision support systems, etc.