Marketing Planning - My learning blog

Information, we as a community gather lots of information in our daily lives for making decisions on many issues or situations. If we need to inquire about something further, we look for more information from different sources to make sure that we are going to take the correct decision. The same thing happens in the business world also. Businesses need to take important decisions on different aspects of their routine business transactions. Hence, they need accurate and trustworthy information from different sources to make their decision-making process easier. “Marketing Information System - (MIS)” comes to play , to make this process of collecting information much easier for the marketers .      A Marketing Information System consists of people, equipment and procedure to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. Mainly, MIS has four components as follows:   Internal records   Marketing intel

  Any business organization that exists in this global market, do their businesses to gain profits through delivering the desired customer value by using their products or services. In the present day context, delivering the value to the customer is not an easy task since, todays' customers are well - educated and informative about the products and services and their qualities. Hence, every strategical marketer should be able to understand the real requirements of the customer and provide with the most suitable product or service with desired value.  Customer - perceived value   It is "the customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers" (Kotler et al,. 2018, p38). In good old days customers just looked for products and services which fulfilled their needs and wants. As a result of technology development and number of innovations in the business world, today's customers h