The Role of Marketing Information System in Building Product Development Strategy: A Field Study on Jordanian Shareholding Drug Industry Companies
Faculty: Business
Authors: سلطان محمد سعيد سلطان فريحات
Year: 2012-06-01
Abstract:
This study aimed to identify the role of marketing information systems in designing and building product development strategies in Jordanian publicly traded pharmaceutical companies. The researchers relied on two types of data: the first consisted of data obtained from books, studies, and previous research; the second consisted of a field study that included designing and distributing a questionnaire to collect data from marketing managers, research and development managers, product design managers, and heads of departments and staff within the marketing information systems in each of the companies mentioned, as they were the stakeholders in the study. The questionnaire consisted of two parts. The first part addressed the general characteristics of the study sample, including academic qualifications, specialization, years of experience, and job title. The second part included data related to the study topic: measuring the ability of the marketing information system to (understand the changing and increasing demands of customers, stay informed about emerging technologies in product design before market launch, provide timely and relevant information to marketing decision-makers), and develop a product development strategy. Cronbach's Alpha test was conducted to determine the reliability of the questionnaire as a data collection tool. The study population consisted of seven publicly traded Jordanian pharmaceutical companies listed on the Amman Stock Exchange. These companies were surveyed in their entirety. The study yielded several findings, the most prominent of which can be summarized as follows: The marketing information systems in these publicly traded Jordanian pharmaceutical companies demonstrate a high capacity to: understand the changing and increasing demands of customers, stay informed about emerging technologies in product design before market launch, and provide timely and relevant information to marketing decision-makers. Marketing information systems (MIS) play a crucial role in developing product development strategies for Jordanian publicly traded pharmaceutical companies. A statistically significant relationship exists between the ability of MIS in these companies to understand and address evolving customer demands and their capacity to develop effective product development strategies. Similarly, a statistically significant relationship exists between the ability of MIS to stay informed about emerging product design technologies before market launch and the companies' capacity to develop effective product development strategies. Finally, a statistically significant relationship exists between the ability of MIS to provide timely and relevant information to marketing decision-makers and the companies' capacity to develop effective product development strategies.