Market Research and Marketing Information Systems

Abstract

In modern business terms almost all management decisions based on adequate and timely market information, which provides exactly the market research. The information which assures the market researches help the management-decision-makers to adjust to the market risks and to realize optimal business results simultaneously. In the market economy, the enterprise cannot act ignorantly toward the market research results. What makes the market research necessary is a fact that the risk cannot be ever completely eliminated from the market economy system, but providing the adequate information, the risk in business decision-making becomes less, and in certain cases even eliminates. One of the most efficient ways of the risk reduction is exactly the market research, because the most of the risk comes out from the conditions changes on the market. The market research product is the information, necessary for making the optimal decisions regarding a tactics and a strategy. The market research projects should serve as an analytical-documentation and analytical-projection material for evaluation of some business venture's market propulsion. Consequentially, the primary goals of the market research are: condition analysis of supply and demand on domestic market, determination of consumption assortment structure, over viewing the foreign trade exchange courses, identification of consumers’ basic segments, determination of used distribution channels, determination of sales possibilities. In such conditions, the emphasis is on information technology, which changes faster and faster a way in which the firms recognize a significance of the market information systems. New business models represent challenges and new opportunities, because the organizations, in search for the competitive advantage, tend to adopt the “electronic trade” methodology. This pressure is also strong in the marketing sector, where the information technology comes in contact with a consumer and is becoming a key for making greater consumer value.