Collecting Information and Forecasting Demand - Essay Example

Marketing Research Marketing Research The different components of the present day marketing intelligence systems include the internal reporting system which refers to how well the organization’s internal constituencies are operating (Kotler, 2012). The second component is the system of marketing research which is necessary for the identification of the needs and wants of the consumers and what the consumers are demanding. The third component is the system of marketing intelligence which exists in order to keep records of the trends in the markets and helps the organization in deciding where they need to invest and for what purpose the money needs to be invested (Kotler, 2012).

The last component is the model of marketing which refers to the model that is followed by an organization and its marketing team in developing and implementing marketing plan in order to increase the sales and awareness of an organizations goods and services. One of the most important part of the marketing intelligence system is internal records of the system and these records are essential as they help in identifying and differentiating between those marketing process that are operating in an effective and efficient manner and those systems that are ineffective and inefficiently operating.

Example of one such record are the sales invoices of an organization and these sales invoices help in depicting the sales level of different products and services of a company (Kotler, 2012). If the sales invoices depict that the sales of a particular good and service has declined, the information can be useful in identifying the reasons that led to the decline and can even help in identifying solutions to increase sales. ReferencesKotler, P., & Keller, K. (2012). Marketing management. Upper Saddle River, N.J.: Prentice Hall.