what are the sources of marketing information system
Answers
Explanation:
Sources of Information for Market Research
Current customers. Collecting data from the current customers will depend on your own creativity. ...
Business magazines. Business magazines are valuable sources of business information that can be useful for the purpose of your market research. ...
Surveys. ...
Government agencies. ...
Internet.
Answer:
(A) Internal Sources:
These refer to the sources of information within the organisation. In certain cases internal sources are indispensable without which the researcher cannot obtain desired results. Internal sources include accounting information (Trading Profit & Loss A/c and Balance Sheets of different years), salesmen’s reports, statistics in relation to advertisement expenditure, transportation costs etc. Information from internal sources is easily available and no financial burden is involved in gathering the information.
(B) External Sources:
In order to study marketing problems in detail the need of external sources of marketing research arises. External sources are of immense importance and utility in case where research needs detailed and thorough investigation. External sources data can be divided with two categories (a) Primary data (b) Secondary data.
Primary Data:
ADVERTISEMENTS:
This refers to the information collected by the researcher from original sources. It is not a published data; it has to be gathered by the researcher himself by tapping various resources. Primary data is usually collected for specific purposes.
The main sources from where primary data can be obtained are (a) Salesmen (b) Dealers; (c) Consumers etc. It is a very slow process of collecting data and involves huge costs. But results obtained from this data are original and tend to be more accurate and reliable