Marketing Information Systems and Forecasting
Information is the life-blood of successful marketing. With the possible exception of the accounting function of the firm, marketing, as a functional area of management, depends on and makes use of information more than any other management discipline. Information can be of great strategic value to the professional marketer, as well as contributing to tactical and more routine operational decision-making. Knowing what kind of information to obtain and how to make effective use of it once you have got it, are the key skills of strategic marketing management. The possession and use of information gives the firm a chance of gaining a competitive advantage over the competition. Armies often win wars, not because they have superior military power, but because they have more effective intelligence-gathering procedures. Likewise commercial firms are waging a sort of commercial war in a free-market competitive economy. They too will have a better chance of ‘winning’ if they have superior intelligence to their competitors.
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