Marketing data bank

Collection of Market Research and Marketing Information System so can base future Marketing decisions by:

• Maximisation of information available.
• Marketing decisions are only as good as data available
• Provides customer feedback to help explain the dynamics of the marketplace
• Introduction to marketing research
• Offers a systematic method to home relevant ideas and methods.
• Used for the application of the 4 x Ps
• Reliant upon good data and correct interpretation

Market Research must, therefore, be carefully planned so that the questions provide useful and workable answers.

Primary Data	Expensive
Secondary Data (Desk Research)	Cheaper

In practice secondary data collection done first, (cheaper), and THEN Primary data used to fill in the gaps.