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Role and Value of Information to Today’s Marketing Managers - Essay Example
Pages 12 (3012 words)
Information is very important for a business to perform a scrupulous marketing of its products and services. This is because; information is what connects the customers to the business managers. Therefore, a business should ensure that there is a free flow of information between itself, the customers, and the external environment in general…
According to Holland and Naude, the effectiveness of a marketing campaign should be evaluated on the basis of the relationships formed (Holland & Naude, 2004, 167). However, a Kotler asserts that information is very important to a marketing campaign. Therefore, he criticizes that marketing campaign should be assessed based on the information driven approaches that are used in the campaign (Kotler, 2005, 25). Information helps managers to identify and be acquainted with the latest trends in the market. The world of today is very diverse and market trends keep on changing depending on the level of innovation in the market. Markets that have highly innovative businesses will tend to have vast changes in their ways of operation. Therefore, a business located in such a market will need to be equipped with data about the latest trends in the market (Randall, 1993, 5). Therefore, information is very important in helping marketing managers to recognize changes in the market prices, product designs and packaging methods.
Impact of Information
Information in the current days has greatly changed due to use of current technology. For instance, promotional methods have improved due to technological advancement. Therefore, the way in which goods and services are advertised in the market has greatly changed. Managers should be aware of these changes so that they can make the right decisions concerning their marketing procedures. ...
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