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

Marketing Take-home Exam - Essay Example cultivation To conduct accurate and applicable grocerying look into, grocerying intelligence plays a very crucial lineament by providing the necessary info. However, McDonald must determine what nurture it needs. There are two major questions relating to the sources of information i.e. (1) What are the internal information sources? and (2) what are the impertinent information sources? External sources of information must involve necessary data relating to the key competitors and target consumers. McDonalds must access the relevant published sources to summary the key strengths, weaknesses and commercialise share of the competitors. This external information must indicate the recent increasements taken bit in the market and among the competitors. Consumers changing behavior also needs to be identified using the external information. On the other hand, internal sources of information are also very crucial. However, obtaining such in formation is an escaped task for McDonalds as it needs coordination with cross-functional departments. Hence, McDonalds must carry out data-base analysis to actualise 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 communional 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 most important questions relating to communication are how to start out 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 systems like RFID and SAP for developing interference-free data gather ing. It helps to build a flawless and nonstop communication system (Koster and Munoz, 2009, p.358). For better decision making process, using the market intelligence process bipartizan communication is an effective method. To develop two-way communication, McDonalds must focus 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 accu rate 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