Marketing Take-home Exam Essay Example | Topics and Well Written Essays - 2000 words

Marketing Take-home Exam - Essay ExampleInformation To conduct accurate and relevant food merchandising research, marketing intelligence plays a real crucial role by providing the necessary information. However, McDonald must determine what information it needs. There ar two major questions relating to the sources of information i.e. (1) What are the privileged information sources? and (2) what are the external information sources? External sources of information must include necessary data relating to the call competitors and target consumers. McDonalds must nettle the relevant published sources to analysis the key strengths, weaknesses and market share of the competitors. This external information must indicate the recent developments taken place in the market and among the competitors. Consumers changing behavior also needs to be identified using the external information. On the other hand, intragroup sources of information are also very crucial. However, obtaining such inf ormation is an easy task for McDonalds as it needs coordination with cross-functional departments. Hence, McDonalds must carry out data-base analysis to understand the up-sale and cross-sale opportunities and to identify the potential consumers. Communication Primary difference between market intelligence and marketing research is the basic intercourseal process. In market intelligence, there is better communication between the decision makers and market intelligence analysts. On the other hand, communication is necessary for gathering and disseminating external and internal information. However, in market intelligence, the two closely important questions relating to communication are how to develop better communication for gathering information? and how to develop communication for decision making? For gathering external and internal information, better communication is necessary. McDonalds must implement IT bodys like RFID and SAP for developing interference-free data gatherin g. It helps to build a flawless and continuous communication system (Koster and Munoz, 2009, p.358). For better decision making process, using the market intelligence process two-way communication is an in effect(p) method. To develop two-way communication, McDonalds must cerebrate on better cross-functional communication and superior interaction level with the employees and management. Integrated marketing communication (IMC) is the most suitable approach as IMC helps to build an effective internal and external communications. People and Processes Managing the people and processes are challenging tasks for producing accurate and relevant outcome from market intelligence process. The first criterion in marketing research is to identify and develop research question. Once this task is over, McDonald must synchronize and manage the entire process. Two primary questions in this area are how to involve relevant people in marketing intelligence process? and how to develop effective and accurate process? McDonalds must identify key employees to involve them in market intelligence process. Motivation and transparency are the two vital factors in this process. McDonald