Use Of Information Sources Kellogg Company - Free Sample Solution

Question: Submit the Company's Use of Information Sources assignment. The current business environment provides a plethora of information resources that are essential for companies to develop to understand and reach their customers. In this assignment, you will provide an overview of how your selected company uses these information resources to build their marketing decision support systems and customer relationship management (CRM) environment. Answer: In the current competitive world, a company and their business cannot survive without adequate information. Therefore, it is important for the companies to collect valuable information for their businesses and most of the leading companies such as Kellogg Company have already started collecting useful information for their business. There are various significances of collecting business information. Mainly, the business information is collected for supporting the marketing decision support systems (MDSS) and for strengthening the customer relationship management (CRM). The marketing decision support systems (MDSS) is essential for the modern day companies to take any marketing decisions based upon the coordination of collected systems, techniques and data supported by many advanced tools and technologies (Guelman, Guilln Prez-Marn, 2015). In general, the concept is to gather data or information from various sources such as journals, surveys, audits for making effective marketing decisions. Similarly, CRM or the customer relationship management is also one of the most important aspects of the modern businesses that imply the management or organizational approach towards their customers in terms of marketing, sales, customers support and technical services (Gunasekaran Sandhu, 2010). In case of CRM, it is also important to collect information from various sources regarding the customers to designs, implement and to operate the CRM systems effectively. However, the most important thing is to gather and to consider the sources of the information, which must be valid and reliable for the company. In case of marketing decisions support system, Kellogg Company considers the company accounts, stock analysis, internal report, retail data as internal information sources and government statistics, commercial data, trade publications, surveys, research documents such as publications, journals as the external sources of information. The company various software made using advanced technologies for managing their marketing decisions support systems. As per the software used by Kellogg Company, there is a central marketing information system that has the functionally to upload and to download marketing data including various other advanced features such as marketing intelligence and decisions support analysis. Within the system, there is central database, where the marketing managers and the employees store all the marketing and sales data of Kellogg Company (Investor.kelloggs.com, 2015). The key motive of that system is to develop information based upon the internal records stored by the marketing personnel, marketing research, marketing decisions support analysis and marketing intelligence. The marketing managers of Kellogg Company are using the records inside the system for analyzing, planning, implementing and controlling the marketing strategies. Additionally, the managers not only access information from the database, they also share or distribute and upload the data regarding the implementation and outcome of the marketing strategies (Khodakarami Chan, 2014). The marketing information are consisted with the components of the marketing environment such as the regarding test markets, competitors, customers, marketing channels, macro-environmental forces. These information resources are useful for making marketing related decisions as the statistical, analytical and business intelligence tools and techniques implemented within the marketing information system hel ps to evaluate useful, valid and reliable outcome. Kellogg Company is managing their customer relationship management (CRM) using various software such as Salesforce and their internal CRM tools and technologies. The information resources collected by the company and their CRM systems help generating leads that are mostly valid, reliable and are generating both sales and profit for the company. Therefore, the appropriate usage of information resources with the CRM system helps saving valuable energy and resources in terms of both money and workforce. Kellogg Company is using and is storing all the information resources regarding their customers within their CRM system for further analyzing (La Yi, 2015). The company is using their information resources in a way that it also enabling their system to generate more referrals from their existing customers. In addition, the company is considering the feedbacks of their customers as one of the most useful information resources, which is helping the company to improve their products based upon the outcome and analysis of their CRM system. The main purpose of implementing and controlling the CRM system is to enhance the sales, sales productivity and to increase the accuracy of their forecasts. The company is supporting their CRM systems with the information resources obtained through various sources for evaluating reliable and valid outcome. The company has implemented advanced technologies within their organizational environment to help their employees and staff to access their CRM system from anywhere to upload and download customer related data to enhance the operational efficiency and business performance (Shaji, 2015). Reference List Guelman, L., Guillan, M., Prez-Marn, A. (2015). A decision support framework to implement optimal personalized marketing interventions. Decision Support Systems, 72, 24-32. doi:10.1016/j.dss.2015.01.010 Gunasekaran, A., Sandhu, M. (2010). Handbook on business information systems. Singapore: World Scientific Khodakarami, F., Chan, Y. (2014). Exploring the role of customer relationship management (CRM) systems in customer knowledge creation. Information Management, 51(1), 27-42. doi:10.1016/j.im.2013.09.001 La, S., Yi, Y. (2015). A Critical Review of Customer Satisfaction, Customer Loyalty, Relationship Marketing, and Customer Relationship Management. Korean Marketing Review, 30(1), 53. doi:10.15830/kmr.2015.30.1.53 Shaji, S. (2015). Business and Information Technology Confederacy for Customer Relationship. IBMRD's Journal Of Management Research, 4(1), 41. doi:10.17697/ibmrd/2015/v4i1/6034 Investor.kelloggs.com,. (2015). Kellogg Company - Investor Relations - Business Information - Leadership Team. Retrieved 8 June 2015, from https://investor.kelloggs.com/investor-relations/business-information/leadership-team/default.aspx