Question

Marketing Information Systems. identify at least three sources of input to a marketing information system for a product or service offering. Identify at least three types of information for Tesla Model S or X should use in a comprehensive marketing information system for decision making purposes. Why did you chose each of them?  

Answer 1

SOURCES OF INPUT

Internal sources - from sales analysis, cost analysis, financial records, balance sheet, orders, inventories etc. This helps to understand the company and its performance

Marketing intelligence – information from marketing intelligence helps to collect data and information regarding competitors and marketing environment. Information comes from annual reports, retailers, media, external agencies etc. This helps to understand the general marketing environment and formulate strategy e.g. what is the reaction of consumers to electric cars

Marketing research- helps to collect data regarding consumers and consumer behaviour through collection of data and analysis. Both primary and secondary research is used. This helps us to understand and analyse   the details specific to crafting the company strategy e.g. what should be the price point for Tesla products

Three types of information

Recurrent Information

Data such as sales, Market Share of a product, sales, advertising campaigns, inventory levels, and receivables etc. This information is provided regularly every week and every month. This helps to keep a tab on Tesla’s performance and operations

Monitoring Information

Information got by scanning trade journals, publications, talks of industry experts. This helps to understand the trends and situation in the electrical car industry including competitors

Requested information

This information is obtained in response to specific request and needs. E.g. the marketing manager wants to know the level of increase in brand awareness after an advertising campaign. Secondary data from online/offline sources or primary data through actual surveys are used. This information helps to understand certain specific requirements of the Tesla Company which may not be available in public