Sales and marketingDepartmentMarketingand sales: -Marketing is the method of distinguishing, anticipating and someeting the needs and requirements of customers in order to create a profit.
Incontrast, marketing involves persuading customers that your product or servicesoffer the advantages that they’re searching for. – Internalcompany information: – planning an expansion without havingthe capability of it’s a waste of time. So marketing managers ought to have aninternal analysis to see where their own company stands.
For these they needregular sales reports, purchase reports, margin reports, costing, clientservice expenses etc. all these will be obtained human resource departmenttough MIS and it’s the primary form of info a marketing manager looksfor.(marketing91, 2018)- Marketingintelligence: – The second kind of info which can berequired is that the business environment or in other words marketintelligence.
The Market intelligence pertains to overall demand within themarket, the potential of the market, competitors within the market etc.Generally, plenty of marketing intelligence is gathered from internal sourcesit like customers, suppliers and distributors. Marketing intelligence fromthese sources is very important to understand any day to day changes happeningwithin the business atmosphere. (marketing91, 2018)- MarketResearch: – while internal info and market intelligence isvery important, the foremost vital info that a marketing manager can receive is”What a client wants”. so time to time market and marketing research isrequired for brand new product concepts further as expected improvement inprocesses. This sort of knowledge will be costly to collect however isdefinitely worth the expense.
Major changes in industries happen mainly as aresult of they’re in touch with their end clients and that they know what theircustomer needs. furthermore, predicting how a market can reply to any changesbeing created within the marketing set up can be answered by your end customersonly and not by your distributors and suppliers. (Marketing91, 2018)