Firsly, budget allocation: Headquarters typically have control over the budget for market research activities (Guan et al., 2021). This means they can allocate funds to specific research projects or business units based on their strategic priorities (Guan et al., 2021).
Secondly, research planning: Headquarters may also be responsible for planning research activities, setting research objectives, and identifying the research methods and techniques to be used (Rahmani et al., 2022). They may work with external research firms or internal research teams to develop a comprehensive research plan (Rahmani et al., 2022).
Thirdly, coordination: Headquarters may also coordinate research activities across different business units or regions to ensure consistency and avoid duplication of effort (Tokta-Palut, 2022). This may involve establishing research protocols, sharing data and insights, and collaborating on research projects (Tokta-Palut, 2022).
Fourthly, quality control: Headquarters may also be responsible for ensuring the quality and accuracy of research findings (Wang et al., 2021). This could involve setting standards for research data collection and analysis, reviewing research reports and presentations, and providing feedback to research teams (Wang et al., 2021).
Finally, decision-making: Finally, headquarters may use the insights gained from market research to make strategic decisions about product development, marketing campaigns, pricing, and other business activities (Masic, 2022). This can help ensure that decisions are based on reliable data and insights (Marinkovic et al., 2022).
Overall, headquarters are crucial in ensuring that market research operations are in line with the strategic goals and objectives of the company (Mwangi et al., 2022). By effectively managing market research, headquarters can help businesses stay competitive, innovate, and grow in their respective markets (Mwangi et al., 2022).Top of FormBottom of Form
6.5 The Marketing Information System as a Strategic Asset
The Marketing Information System (MIS) can be a strategic asset for organizations because it provides critical information about customers, competitors, and the market environment that can inform decision-making and drive business success (Meeen et al., 2020b). Here are some ways in which MIS can be a strategic asset:
Firstly, customer insights: MIS can provide valuable insights into customer preferences, behaviors, and needs (Luo et al., 2022). By analyzing customer data, organizations can better understand their target audience, develop products and services that meet their needs, and build stronger customer relationships (Mandal, 2022).
Secondly, competitive intelligence: MIS can also provide insights into competitors' products, pricing, marketing strategies, and other key factors (Cavallo et al., 2021). This information can help organizations identify opportunities for differentiation, anticipate competitive threats, and develop effective marketing strategies (Salguero et al., 2019).
Thirdly, market trends: MIS can provide valuable information about market trends, such as changes in consumer behavior, emerging technologies, and economic conditions (Gruzauskas et al., 2020). Organizations that do this may stay innovative, adapt to changing market conditions, and stay ahead of the curve (Shen & Shafiq, 2020).
