MCDONALDS MARKETING INTELLIGENCE SYSTEM MARKETING ESSAY

4150 WORDS

The driving forces behind the urgency to have quality marketing research and marketing information are hinged on the two factors. The continued decline in the unit cost of computer hardware and steady improvement in the flexibility and power of computer software, (Vitale, Ives, and Beath, 2019) and the quick pace in which environment changes, (Miles and Snow, 2019).

The purpose of marketing research is to assist and improve marketing decision. Market research narrows the gap between producer and consumer and increase the chance of successful decisions. In any field, the basis of decision making is having effective information available and using it. Processed, analysed and correctly used, market information can reduce risk, time and waste by providing the best basis for decision, (Pinewood, 2019). Naturally, it seems, this leads to well defined marketing strategy.

However, (Assad, 2019) posited “marketing research must be conducted vigorously and systematically to fulfil its intended role, which is only vigorously when data collected are valid, reliable and representative”.

2.0 The Quality of Marketing Research and Marketing Information

What is Quality Marketing Research and Marketing Information?

We will tackle this question by first collecting related framework, model and system and then discuss the issues of accuracy, reliability, amount of information required and data analysis complication that affect the quality of marketing research and marketing information.

Mcdonald’s Marketing Intelligence System

Dr. Malcolm Mcdonald’s concept of marketing intelligence system is depicted in fig. 1.

As explained by Mcdonald, marketing research and marketing information are inseparable and hence synergistically entwined to effect a good marketing strategy. From the above, data from the market through marketing research are processed and analysed to form relevant marketing information which forms intelligence (knowledge) to make quality decision focuses on key determinants – for example, the significance of market share or correct service levels for profitable growth. In marketing, these can be