BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Marketing research serves marketing management by providing information which is relevant to decision making. Marketing research does not itself make the decisions, nor does it guarantee success. Rather, marketing research helps to reduce the uncertainty surrounding the decisions to be made.

Detailed explanation-2: -The internal records that are of immediate value to marketing decisions are: orders received, stockholdings and sales invoices. These are but a few of the internal records that can be used by marketing managers, but even this small set of records is capable of generating a great deal of information.

Detailed explanation-3: -A marketing information system, or an MIS, is a system for gathering, storing, analyzing and distributing valuable marketing data to help marketers make better decisions. The input of a marketing information system focuses on collecting relevant internal and external data to analyze and interpret.

Detailed explanation-4: -Used to support business decisions, market research is used to identify the need for new products and services. It clarifies thinking during product development and is used to keep a company on the cutting edge. It can also help rejuvenate a product brand.