Role and Value of Information to Todays Marketing Managers Essay

Role and Value of Information to Todays Marketing Managers - Essay ExampleAccording to Holland and Naude, the effectiveness of a merchandise campaign should be evaluated on the basis of the relationships formed (Holland & Naude, 2004, 167). However, a Kotler asserts that information is very important to a securities industrying campaign. Therefore, he criticizes that marketing campaign should be assessed based on the information driven approaches that are used in the campaign (Kotler, 2005, 25). Information helps managers to identify and be acquainted with the latest trends in the market. The valet of today is very diverse and market trends keep on changing depending on the level of innovation in the market. Markets that have highly innovative professiones leave behind tend to have vast changes in their ways of operation. Therefore, a business located in such a market will need to be equipped with data about the latest trends in the market (Randall, 1993, 5). Therefore, informat ion is very important in helping marketing managers to recognize changes in the market prices, product designs and packaging methods. Impact of InformationInformation in the current days has greatly changed due(p) to use of current technology. For instance, promotional methods have amend due to technological advancement. Therefore, the way in which goods and services are advertised in the market has greatly changed. Managers should be aware of these changes so that they burn kick in the right decisions concerning their marketing procedures. This is because all business activities are also becoming more information intense and thus, this also makes it easier to solve physical problems in the business (Holland & Naude, 2004, 168). However, Holland & Naude have been criticized that they do not analyze the whole market when giving out this report because it is not all business activities that are information intensive in the market. There are other business activities which require very little information (Georgia State University, 2002, 11). Information in marketing has also changed to an fulfilment that it facilitates the marketing plan and control of the organization. Unlike with the old marketing methods, currently marketing managers are able to plan in advance concerning their marketing strategies due to availability of information. The business is able to analyze the whole market effectively since it will have collected full market information from its competitors (Holland & Naude, 2004, 170). Therefore, the business can use this information to ensure effective