UNIT 5: MANAGING MARKETING INFORMATION

BACKGROUND

Managers need information on which to base their decisions. In business most of

the information lies within the ever-changing marketing environment. The
responsibility to understand the business environment and respond appropriately
to the changes in the environment lies on the shoulders of business managers. To
manage the future requires information which is accurate, timely and relevant.
Unfortunately, most managers have either too much information (information
overload) or little information (information underload).

Marketing information management is required to spot opportunities and threats

that exist in the global landscape. Knowledge most notably about the context of
operation in terms of demographic characteristics, economic environment,
ecological (natural) environment, technological environment, political and legal
environment is a basic source of competitive advantage.

LEARNING OBJECTIVES

Upon completion of this topic, learners must be able to;

• Distinguish between data, information and intelligence

• Explain the benefits of good information
• Discuss the sources of information in the global arena for the development
of marketing strategies.
• To identify and apply library research sources in the conduct of marketing
research

Samuel Kabbera
PRE-TOPIC ACTIVITY

As part of our pre-topic activity, we will watch three videos on the links below;

https://youtu.be/qynedUMwQIQ

https://youtu.be/Qgp9C5VEqBk?list=PLvU19cxwKxtCK3j9raaaudbRTI7qOV1sa

https://youtu.be/7GtDyNHwd50

As you watch, take note of the meaning of the following key terms; data,
information, intelligence and marketing information system. Specifically take note
of the components of marketing information system.

From the video, make a summary of the sources of information that generate
marketing insights. Your previous knowledge about what you covered in the topic
marketing environment will be useful here. This pre-topic activity will help you to
do e-tivity 5.1, e-tivity and 5.2

e-TIVITY 5.1

From what you have watched summarise the components of the marketing
information system. Post your response to the WhatsApp discussion forum by July
8 2022.

e-TIVITY 5.2

In groups of 8 persons brainstorm on the topic; the power of information. Discuss

how this power would be acquired by a retail business of your choice operating
globally. Identify the sources of secondary data that you would use to improve
this power. Make a summary of your discussion and post to the WhatsApp
discussion forum by July 11 2022.

Samuel Kabbera