INTERNAL RECORD SYSTEM
This consists of information gathered from sources within the company which helps to evaluate the marketing performance and identity marketing problems and opportunities. The records include;
- Profit and loss statement.
- Balance sheet.
- Sales record
- Employee record.
- Cash flow statement.
This information is used for;
- Day to day planning implementation and control.
- To evaluate the performance of a company.
- To detect problems.
- To create new marketing opportunities and ideas.
MARKETING INTELLIGENCE SYSTEM
This is a set of procedures and sources used by managers to obtain everyday information about development in marketing environment. Sources of marketing intelligence include;
- Reading books and newspapers
- Trade publications
- Meeting with other company managers.
- Exhibitions and conferences.
- Sales persons.
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