Sample Solution

  Marketing Decision Support Systems (MDSS) are computer-based systems that provide marketers with data and analytics to help them make informed decisions about their marketing strategies. MDSS leverage a variety of technologies, such as AI and machine learning, to collect and analyze customer data in order to tailor marketing messages for target audiences more effectively. This helps marketers understand the needs of their customers and develop relevant campaigns accordingly.

The impact on marketing management systems is significant due to the ability MDSS provides businesses with better insights into the customer journey, enabling them to identify opportunities for further engagement or sales conversion. By analyzing large amounts of customer data quickly, marketers can accurately segment customers according to their interests, preferences or behavior patterns - allowing them to craft customized messages aimed at each individual segment rather than sending out generic messages that lack relevancy. In addition, by tracking user interactions across digital platforms they can also gain insights into customer trends which can be used as part of future campaigns. At each stage of the product life cycle different types of marketing strategies should be applied in order for marketers to maximize success within those stages. For example during the introduction phase when launching a new product it’s important that awareness is built through advertising methods like TV commercials or print ads so potential customers will become aware of its existence. Whereas during maturity and decline different tactics such as loyalty programs may need to be implemented in order to keep current customers engaged while trying attract new ones in order ensure growth amidst competition from other companies introducing similar products into the market place . When developing these strategies key factors like demographics, economics environment , technology , political landscape etc must all be taken into consideration . For instance if a company decides they want introduce a new product targeting teenage population they must factor in elements such as language preference , various social media platforms used by teens etc when coming up with promotional ideas since these factors could have an influence on how well message is received amongst target audience . Similarly economic conditions could affect who has access financial resources thus impacting purchasing power which would also need taken account when creating pricing strategy associated with product launch . Finally constructing an effective strategic plan requires careful research before any campaign is put place – this means gaining understanding both internal/external factors influencing business operations , researching competitors actions & positioning along with assessing consumer behaviour towards certain brands/products & services taking note what motivates people buy products offered by organization compared alternatives available on market place . Once all relevant information gathered tactical steps set forth allow team members execute plan smoothly without any road blocks hindering progress .