Not All Companies Have the Resources Required to Implement a Full-

question 64

Essay

Not all companies have the resources required to implement a full- scale marketing information system (MIS). Therefore, on which components of an MIS would you concentrate if you were a smaller company? Explain why you would do so and use examples to illustrate your answer.

---

Definitions:

Principle of Parsimony

A methodological principle suggesting that the simplest explanation is often the correct one when comparing theories with equal predictive capabilities.

Parsimonious

A characteristic of an explanation or theory that requires the fewest assumptions, variables, or changes to be effective or accurate.

Replicable

Capable of being repeated or duplicated under the same conditions, allowing for the verification of results.

Statistically Significant

A determination that a result from data analysis is not likely to have occurred by chance alone, indicating a true effect or difference.