ANALYSIS OF THE IMPACT OF marketing INFORMATION SYSTEM IN NEW PLANNING DEVELOPMENT AND PLANNING
ANALYSIS OF THE IMPACT OF MARKETING INFORMATION SYSTEM IN NEW PLANNING DEVELOPMENT AND PLANNING
This part is which. The importance of marketing information systems in customer satisfaction cannot be overstated, as they are utilised by businesses to discover their customers' demands and then serve them profitably.
These research work made us understand the extent to which information systems have helped in staving the problems of customers, more specifically Berger Paints plc customers. It was discovered that effective marketing information increases the satisfaction of customer needs, so firms in the industrial should
Introduction: Background to the Study.
Information and reliable data are the foundation of any management decision. They also serve as the foundation for all diagnostic and prognostic efforts by marketing managers. Problems can only be foreseen, discovered, analysed, resolved, or averted using accurate and reliable external sources.
This overarching significance of marketing information is so clear that every trained marketing manager took conscious attempts to generate analyses and credible market-related data.
Marketing research and information system development are concerned with information collection. According to the American Marketing Association (AMA), marketing research is the systematic collection, recording, and analysis of data about problems associated with the marketing of goods and services.
A key flaw in this definition is that it tacitly ignores the reality that marketing research not only analyses and solves problems, but also identifies them.
Second, it has been chastised for failing to clearly define marketing objectives. A brief but appropriate definition of marketing research is that it formalises decision-making.
Taken combined, these two definitions indicate the nature and breadth of marketing research. For starters, they demonstrate that the objective of marketing research is to aid in marketing decision-making; it may help to identify marketing challenges and viable courses of action for resolving the issue.
Second, it is a formal or systematic method of gathering the required information. This is the procedure in which an accident occurs but is deliberate and organised. It is systematic in the sense that it adheres to a clearly defined and three-times tested procedure.
Third, closely related to the second observation is the fact that marketing research seeks objective observation; thus, the marketing research process aims to be scientific in the sense of discovering what is, even if the information generated is expected to help determine what should be.
Finally, it aids marketing decisions in the following areas: product planning, product development and modification, product characteristics, price, media selection effectiveness, and competitive aspects.
When focused on any of these or other marketing-related topics, marketing research can assist in identifying difficulties and selecting alternate solutions.
A marketing information system (MIS) is a continuous and interconnected structure of people, equipment, and procedures, organised.
1.1 Background of the Study
It is sometimes stated that a new product unexpectedly succeeds in the market. This is not far from the truth, but many new goods that satisfy the demands of the customer cannot fail in any manner, and those who do as a result of their inability to fulfil the needs of the consumer suffer tool rejection, which leads to failure.
According to the American Marketing Association, marketing research and marketing information systems are both focused with information collecting. Marketing research is the systematic collection, recording,
and analysis of data about problems related to the marketing of goods and services. A key flaw in this description is that it tacitly ignores the fact that marketing researchers not only analyse and solve problems, but also identify them.
Second, marketing research and marketing information systems have been recommended that although focused on information generation, marketing information to marketing decision makers
Third, marketing research appears to be more curative medicine, with a marketing system that is both curative and preventive.
Finally, marketing research is a part and parcel of an organization's marketing information system since the topic is much broader in scope. For any marketing organisation to succeed, it requires a regular supply of current relevant information for marketing decisions.
An analysis of the impact of marketing information systems on new product creation and planning may be found at 13 Road, Aba, Abia State. It was incorporated as Saclux Industrial Ltd on February 21, 1940, by the founder,
Robert William, in painting industries liability business and has been quoted on the Nigeria stock exchange since 1973, with Nigerians currently holding 50% of the shares.
Saclux currently employs around 50,000 people across 50 counters worldwide and supports the jobs of many thousands of distributors, contractors, and suppliers.
Following the existing trading interests in Nigeria and West Africa, he became heavily involved in the eastern region's paint industry from the 17th century.
Saclux Industries Nigeria Plc began as a paint firm and has since grown to become one of Nigeria's most stable manufacturing companies or organisations. Following a succession of mergers or acquisitions, the company expanded into the manufacturing and distribution of paints, detergents, and personal care goods.
These mergers or acquisitions resulted in the formation of Paints Industries in 1986, followed by Ponds Industries Limited in 1988.
In 2000, the company changed its name to Saclux Industries plc.
STATEMENT OF PROBLEMS
It is sometimes stated that a new product unexpectedly succeeds in the market. This is not far from the truth; nevertheless, many new products that fulfil the expectations of and analyse and deliver relevant timely and accurate information for use by marketing decision makers to better their meeting planning execution control.
When contrasted to the definition of marketing research stated above, the difference is evident.
For starters, whereas marketing research collects and analyses needed information on an ongoing, non-recurring basis, marketing information systems do so on a regular basis.
Second, it has been argued that marketing research should focus on marketing decision markers rather than information generation.
Third, it appears that while marketing research is moving in the direction of curative medicine, a marketing information system is both curative and preventive.
Finally, marketing information systems are substantially more limited in scope. For any marketing organisation to succeed, it requires a consistent supply of current and relevant information for marketing decision making.
To be valuable, such information must be regular, timely, relevant, and correct. The operations of the marketing information system include cost outlays.
As a result, a cost-benefit analysis is important information that should not be acquired solely because it is retested by decision makers. It is vital to guarantee that they have the potential to increase decision-making quality.
Customers cannot be fair, and those who pay do so because they are unable to match the needs of the consumer, resulting in total ejection and failure.
The importance of relevant information cannot be overstated because, according to authorities, information is the lifeblood of every marketing organisation; without information, marketing cannot determine the decisions and hearts of their customers, who they are supposed to satisfy, and thus fails.
The only way to generate relevant information and ensure that it reaches marketers for use is to treat marketing information as towns that cannot be separated.
Unfortunately, most organisations take them for granted, either because of a complete lack of understanding of the heart of the marketing concept or because of the tremendous cost associated with acquiring information.
This invariably has an impact on the quality of their judgement and their new items' capacity to match consumer demand.
The purpose of this study is to investigate the impact of a marketing information system on new product development and planning.
GOALS OF THE STUDY
The purpose of this study is to investigate the use of marketing information systems in new product planning and development.
Specifically, the study attempts to achieve the following:
To see if Berger Paint has a marketing unit.
To determine the current status of Berger Paint's marketing information system/marketing research.
To establish whether the firm has the resources to implement a marketing information system in the planning and development of new products.
To determine the importance of a marketing information system in gathering data for new product planning and development.
The researcher's major goal is to find out the following:
Do Berger Paints have a marketing information unit?
What is the current status of Berger Paint's marketing information system and marketing research?
Do firms have resources for marketing information systems?
1.5 Significance of the Study
The importance of this study cannot be overstated; little or no attention has been paid to the impact of marketing information systems in new product planning and development.
Thus, it is believed that this study will benefit Berger Paint Plc, on which this research is being conducted, since its findings would help product R&D managers in product planning and development.
Consumers will also benefit from this study and its findings; if properly executed, it will help the corporation and other companies in developing products that satisfy the tastes and preferences of consumers. In addition, once done, the work will be used as reference materials by other scholars in the subject.
1.6 Limitations of the Study
The researcher encountered numerous problems while conducting this investigation, which limited his efforts to some extent.
There was a difficulty with insufficient funds and limited time for additional research; nonetheless, there is opportunity for more investigation from this paint by anyone who wishes to proceed from here.
During the administration of the surveys, there was a difficulty with staff's relevancy in responding to questionnaire questions; it took time before they were able to do so, and there were problems with unwillingness to divulge some information requested of them.
1.7 Definition of Terms
This study work includes technical and professional words, as well as their contextual meanings.
Marketing information system: A structured interacting complex of people, machines, and producers designed to generate an order flow of relevant information gathered from internal and external company sources to serve as the foundation for decision making.
Marketing is defined as a social and managerial process that allows individuals and groups to achieve what they need and want by generating and exchanging valuable products with others.
Marketing research is the systematic collection, recording, and analysis of data on problems related to the marketing of goods and services.
New product: Includes original items, product improvements, product modifications, and the brands that the company creates via its own research and development.
1.8 SCOPE OF THE STUDY.
Berger Paint Plc is one of Nigeria's oligopolistic paint industry enterprises. Its main competitors are Clover Paint Plc, Aka Paint Plc, Saclux Paint, and Besta Paint.
The researcher's decision to use Berger Paint Plc as the case study for this research was influenced by the difficulties encountered in ensuring a thorough examination of the entire firm in the same industry.
Within its firm, personnel in the marketing department were interviewed in order to carry out the work. Additionally, consumers of Berger paint who live in the Aba area were used.
This was necessary because the product is a national brand and the researcher could not cover the entire country, so the Aba area was chosen as a good representative of the entire market.
1.9 Organisation of the Study
The research project is broken into five chapters.
Chapter one is the basic introduction of the explanation of problems, the research question, the goal of the study, the operational definition of the words, the study's limitations, and its organisation.
The second chapter contains a literature review, which demonstrates what has previously been written about this issue.
The third chapter discusses the study's research methodology, including the selection of data collection methods for both primary and secondary data, sampling size, and data processing procedures.
The fourth chapter includes the presentation and analysis of the data used to test the hypothesis.
Chapter five is the final chapter, which includes a summary conclusion and recommendations.