What is a marketing decision support system?

Marketing decision support system is a system or method that can be used to help assess possible marketing strategies and ultimately to decide in the best interest of the company. This strategy, sometimes referred to as MKDSS, attracts a number of resources to identify and project the result of several different business scenarios. Part of this type of system are sources such as information technology available, marketing data that collect for a certain time, and even modeling techniques used for projects are part of this type of system.

The type of data collected for use in the support system of marketing decision -making will vary slightly on the basis of the type of goods and services sold by the client and the configuration of the markets on which these products are sold. As regards the market data collected, abocled access will include data collectionReal advertising costs using various forms of media, the impact of different unit prices on the sale of the products and even ideas on how to structure a copy of advertising that serves as the basis of the campaign. Different types of software are used to allow easy input of collected data, and then organize this data in useful packets of information that can be used on a number of different scenarios. Using this method, it is possible to predict with great reliability, what would happen if a particular scenario was selected and persecuted.

One of the main advantages of the marketing decision -making system is the ability to reflect the outcome of various scenarios before investing a large amount of money in marketing efforts. For example, this strategy makes it possible to determine what would probably happen if the products were sold at a specific unit price, marketing to specific consumers, and a combination of advertising media was used to achieve these consumer markets. If the result of one scenarioIt is not entirely at the required level, an improvement factor such as something about an advertising copy or a media change may be used, or even prices that pass through every scenario can be used until the most attractive approach is identified.

There is no doubt that the marketing decision support system can save a lot of time and money. By allowing companies to qualify in advance, it is easier to take proper business decisions. In fact, the decision -making process itself is somewhat simplified because it is not necessary to manually weed through a huge amount of data to create possible scenarios and follow the simulation to the most likely result. From this point of view, the marketing decision support system facilitates the identification of advantageous ways to proceed with the campaign, the Terms time, the focus on the market and costs.